This Growth Stock Has Market-Beating Potential
When trying to find a good stock to invest in, I often start by looking for large and growing market opportunities. Cloud computing is one such space.
According to Grand View Research, the market is already quite large. It's estimated to be $369 billion at the end of 2021, when including infrastructure, software, and platform services. But cloud computing is still very much in growth mode -- Grand View Research predicts it will grow at a 15.7% compound annual growth rate from the end of 2021 through 2030.
When it comes to the cloud-computing space, Amazon's AWS and Microsoft's Azure are the leaders. But even though it's small with a market capitalization of just $2.6 billion, DigitalOcean (NYSE: DOCN) is a cloud-based growth stock with market-beating potential. It's also a company investors should take a serious look at in the current bear market in tech. Here's a closer look at what makes DigitalOcean stand out from the pack.
Source Fool.com
