I always say that the road to wealth is paved with tech, and right now, that road is leading straight towards the cloud.
That’s because none other than Nasdaq Inc. (NDAQ), the tech-centric market itself is planning to move all of its market hosting, for all 28 of its markets, to the cloud, as reported by The Wall Street Journal.
It might just be the most poetic example of my investing style that I’ve ever come up with.
And as we’ve seen from the COVID shutdowns, the $350 billion cloud computing sector is central to the modern digital economy. In order to succeed, a company simply must be connected to the cloud throughout almost all of its operations.
With that in mind, it’s no wonder that Technavio predicts that the cloud computing sector will grow by $190.32 billion during the 2019-2023 period. At that rate, it would be set to double in less than a decade.
When we spoke on Tuesday, I noted that one of the 10 tools for coping with the new bear market is to put together a watchlist of great tech stocks you’d like to buy.
The idea here is to get set up for when the market turns our way again. At this point, I have no doubt that the market will rebound as it always has in the past.
But by definition, this choppy, news-driven market greatly increases the risk of getting in too early. To avoid doing just that, I recommend looking for tech leaders that you would like to own for the long haul.
That means giving each one a thorough checkup to make sure that prior to the correction, they had a great track record of earnings gains.
Tuesday was a very big day for the Democrats with Super Tuesday putting hundreds of delegates up for grabs.
That makes this an ideal time for a fiscal conservative like me to make a very important point.
If presidential candidate Bernie Sanders bounces back from his second-place finish and is elected in November, rich tech leaders like cloud pioneer Mark Benioff won’t be able to help save the lives of kids.
Here’s the thing. Sanders has been an outspoken opponent of wealth for many years. And if elected, he pledges to slap the wealthy with punitive taxes.
I believe that Sanders and his supporters are flunking the cosmic IQ test. Simply stated, without rich people, America would lose a huge chunk of funding for the arts as well as scientific and medical research.
With that in mind, today I am going to reveal five reasons why Benioff’s high-octane firm, Salesforce.com Inc. (CRM), is a great investment.
If you are just not discovering the earning potential of Amazon.com Inc. (AMZN), than you have a lot of reason to be excited..
And I say that because I am still seeing a huge amount of upside ahead.
Let’s start with item number 1. When we spoke on January 24, I noted that much of Wall Street was cool to the stock for years.
But I have a more current example of a high profile stock “guru” who missed the boat completely. And not that long ago.
When AMZN crossed the $1,000 mark on May 31, 2017, Jim Cramer, went on TV to bash the stock. The host of CNBC’s Mad Money said “psychologically” $1,000 is a lot to pay for a stock he felt was getting ahead of itself.
The stock has more than doubled since then, reaching a closing high of $2,021.