If You Like Amazon, Microsoft, and Alphabet, Consider Buying This Stock, Too
What do Amazon, Microsoft, and Alphabet have in common? Cloud computing is one of the fastest-growing parts of each company.
Cloud technology is the reason many businesses are able to operate online. It allows them to serve a wider customer base and ultimately do significantly more with far less money. They no longer have to invest in expensive server hardware, because they can simply outsource it to a cloud provider who maintains large data centers off-premise.
According to one estimate by Grand View Research, the industry could be worth upwards of $1.5 trillion annually by 2030. While the above-mentioned tech giants rule the cloud right now, I want to introduce you to DigitalOcean (NYSE: DOCN), a small player growing at a rapid pace.
Source Fool.com
