Cloud Spending Is Slowing. Here's Why Tech Investors Shouldn't Panic.
The latest batch of quarterly earnings reports from the top cloud computing companies indicated an unnerving trend: Spending from cloud clients is slowing down.
Investors are already concerned about rising interest rates and a potential recession, so hearing management from Amazon (NASDAQ: AMZN), (NASDAQ: MSFT), and Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) say that customers are somewhat backing off of cloud spending right now didn't exactly instill confidence.
But should investors be worried about these companies and their long-term potential? I don't think so. You'd have to ignore some really huge cloud computing trends to think the market is on the decline. Let's take a closer look at what's really going on.
Source Fool.com
Microsoft Corp. Stock
€393.05
-0.320%
With 106 Buy predictions and 1 Sell predictions Microsoft Corp. is one of the favorites of our community.
As a result the target price of 420 € shows a slightly positive potential of 6.86% compared to the current price of 393.05 € for Microsoft Corp..
