2 Supercharged Stocks Investors Should Buy for 2023
While 2022 may be remembered for many things, it won't be considered a great year for tech stocks. The S&P 500 tech sector is down nearly 30% compared to the broader market's 20%. Much of this decline came from the overvaluation of software stocks, but 2023 could mark a potential reset year.
Some software stocks have seen their revenue growth grind to a halt, but others are still thriving. Two companies still growing at an unbelievably fast pace are Cloudflare (NYSE: NET) and Datadog (NASDAQ: DDOG). Both are primed for a great 2023, and I think they should be at the top of investors' shopping lists.
With the rise of cloud data centers, the internet is transitioning into a new growth phase. Rather than individual companies hosting their own websites, they can contract out to Cloudflare, which will host their websites using its data centers. With more than 275 data centers spread globally, 95% of the world's population lives within 50 milliseconds of a Cloudflare data center. That means websites hosted on Cloudflare have unparalleled speeds, and if one data center goes down, there are multiple others to redirect traffic to.
Source Fool.com
