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Is Splunk Stock a Buy?

TheMotleyFool

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Cloud computing has been a bright spot in 2020 amid the global pandemic and ensuing recession. According to tech researcher Gartner, global public cloud spending is expected to increase 6% from 2019 to reach some $258 billion -- then return to double-digit percentage increases in 2021 and 2022, in which time Gartner sees global cloud spending topping $364 billion.

This is the trend that underpins the thesis to invest in data monitoring and analytics platform Splunk (NASDAQ: SPLK).

Image source: Getty Images.

Source Fool.com

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