3 Cloud Stocks That Could Help Make You a Fortune
Many high-growth cloud stocks recently crashed as rising interest rates drove investors toward more conservative sectors. As a result, the largest and oldest cloud computing exchange-traded fund, the First Trust Cloud Computing ETF (NASDAQ: SKYY), lost about a third of its value this year.
It's tempting to avoid cloud stocks entirely and stick with recession-resistant plays in this growling bear market, but investors could be leaving a lot of money on the table by avoiding this high-growth sector. After all, the global cloud market could still grow at a compound annual growth rate (CAGR) of 15.7% between 2022 and 2030, according to Grand View Research.
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Source Fool.com
