3 Top Cloud Computing Stocks to Buy in August

Cloud computing services started to proliferate in the 2010s, and with the tech now accepted as an essential part of business, it's completely disrupting the very fabric of the global economy. Across all industries, those companies making best use of the cloud are winning and leaving their peers in the dust. And in the decade ahead, the trend will remain a high-growth theme with annual spending on the cloud expected to reach $1 trillion worldwide.

To that end, Teladoc Health (NYSE: TDOC), Unity Software (NYSE: U), and Twilio (NYSE: TWLO) look like great buys for the month of August. Here's why.

The market seems to think Teladoc stock had gotten way ahead of itself after about a 250% run-up from the start of 2020 to mid-February 2021. Since then, Teladoc has been halved in value from its all-time high. I'm fine with that. I was a shareholder of the leading virtual healthcare provider before the pandemic and am happy to continue as one as the global economy gradually adjusts to the "new normal."

Source Fool.com