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3 Cloud Computing Stocks to Buy in November -Breaking

by Mike Robinson

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© Reuters. Three Cloud Computing Stocks You Should Buy In November

The ‘cloud’ has grown in popularity in the current, digital era, and its adoption across various industries is expected to only rise for the foreseeable future. We believe it is a smart move to invest in fundamentally sound cloud computing stocks such as Veeva Systems (NYSE) and Commvault Systems(CVLT). Let’s pore over these names.The COVID-19 pandemic has accelerated the digital transformation across industries, leading to the adoption of new-gen technologies such as cloud computing, artificial intelligence (AI), and the Internet of Things (IoT). Demand for the ‘cloud’ has grown markedly in recent years because it is highly efficient and provides relief from hardware constraints.

According to an International Data Corporation (IDC) report, “whole cloud” spending is expected to surpass $1.30 trillion by 2025, growing at a 16.9% CAGR. As businesses move to a digital-first economy cloud computing will be a key component in increasing efficiency, flexibility, and innovation. Investors’ interest in cloud computing stocks is evidenced by the Global X Cloud Computing ETF’s (CLOU) 27% returns over the past year and 5.7% gains over the past month.

High quality cloud computing stocks Workday, Inc., Veeva Systems Inc., and Commvault Systems, Inc. are poised to make a profit in this month and the future. We believe it would be wise to grab their shares as soon as possible.

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