3 Top Cloud Stocks to Buy in January
The global cloud computing industry is expected to grow from $219 billion in 2020 to over $791 billion by 2028, according to Fortune Business Insights -- a compound annual growth rate of nearly 18%. A few major players dominate the space, and a couple of those look poised to provide shareholders with massive returns in 2022 and beyond. But for investors ready to seek options off the beaten path, a certain smaller niche player could be highly rewarding.
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One cannot talk about the cloud without mentioning the most dominant player: Amazon (NASDAQ: AMZN). Amazon Web Services (AWS) accounts for over 30% of the global cloud infrastructure market, and most of the tech giant's profits come from its cloud business, not its e-commerce operation. Amazon's retail business is a low-margin operation, and it has struggled to realize net earnings independently. The massive success of AWS has propelled the company's share price to its current level, and its market cap to more than $1.7 trillion.
Source Fool.com
