3 Best Cloud Stocks to Buy in June
The cloud market has had its share of attention in recent years, with the COVID-19 pandemic bolstering the sector as thousands of companies moved to hybrid working styles. As a result, cloud giants enjoyed several quarters of winning over investors with double-digit revenue growth from their cloud platforms. Last year's economic headwinds have since slowed cloud growth for many companies as rising inflation forced businesses to trim cloud budgets.
Even with this volatility, the cloud industry continues to garner a solid long-term outlook. As inflation eases and artificial intelligence (AI) advances, both trends offer cloud companies a fresh boost. Data from Grand View Research shows the cloud market hit a value of $484 billion in 2022 and is projected to continue expanding at a compound annual growth rate of 14% through 2030.
With considerable growth ahead, now is an excellent time to consider adding a cloud stock to your portfolio. Here are three of the best cloud stocks to buy in June.
Source Fool.com
