Cloud computing is a concept that has been around for quite some time. The first mention of the term was in the mid-nineties, and developers used it to describe how multiple users could access remote servers hosted by a third-party company. However, it was only recently that the interest in cloud stocks increased.
Cloud computing has been around for quite some time, and its importance is only growing as more and more people are turning to use it. Cloud computing allows people to have access to their data from anywhere without worrying about hardware or software issues.
According to research, the global cloud computing market is projected to grow from $445.3 billion in 2021 to nearly $1 trillion by 2026, at a Compound Annual Growth Rate of 16.3%.
Overall, the cloud has become an important part of our everyday lives, especially with the rise of mobile devices becoming more and more popular.
There are many things to consider when picking the best cloud stocks. Besides the questions typical of any investment like revenue growth, it’s also worth asking how much each company charges users for server usage and storage.
If you are interested in learning about the top cloud computing stocks, these cheap stocks are worth looking into:
- Orange (NYSE:ORAN)
- Telefónica (NYSE:TEF)
- WideOpenWest (NYSE:WOW)
- TriplePoint Venture Growth BDC Corp. (NYSE:TPVG)
- Xunlei (NASDAQ:XNET)
Cloud Stocks: Orange (ORAN)
Orange operates in the cloud computing market, focusing on providing high-quality services to enterprises, governments and individuals.
It is the largest French telecommunications company with 266 million customers worldwide. It also provides services to other providers of information and communications technology (ICT), such as mobile operators and internet service providers (ISPs), through its subsidiary Orange Business Services (OBS).
As an emerging ISP with a wide range of services, the company has generated many loyal customers. In addition, Orange SA sells mobile phones, broadband devices and various connected devices.
The company is very diverse in terms of its ventures. Aside from providing cloud computing services, customer relations management, video conferencing and selling related equipment, they also offer security services.
Telefónica is parterned with Microsoft (NASDAQ:MSFT) and uses Azure to provide cloud computing services. It opens up opportunities for their clients with new, more flexible options for services. Its partnership with Microsoft focuses on regulatory compliance:
“Telefónica Tech will provide consultancy, implementation and operation services that will enable the deployment of maximum security cloud services within the scope of public administrations and companies in regulated environments, guaranteeing compliance with information privacy, quality of service and regulatory compliance requirements at all times.”
Cloud computing is becoming a popular trend among companies because it offers flexibility and efficiency.
With this partnership, Telefónica can offer their clients better services than before, which will help them grow and stay ahead of their competition.
Cloud Stocks: WideOpenWest (WOW)
WideOpenWest is a company that provides SaaS (system as a service) and PaaS (platform as a service) solutions. Their main focuses are delivering software and offering services to companies.
Cloud computing is one of the most popular trends in the IT industry today, and it has been around for more than 30 years. Cloud computing allows companies to scale up their operations with minimal cost while providing easy access to data and resources. WideOpenWest offers its services in various locations, including North America, Europe, Asia-Pacific, Latin America and Africa.
The company serves 3.2 million homes and businesses across the US in Alabama, Florida, Georgia, Illinois, Indiana, Maryland and more.
TriplePoint Venture Growth BDC Corp. (TPVG)
TriplePoint Venture Growth BDC Corp is a venture capital firm that manages investments in early-stage companies. It is looking to invest in various sectors, such as e-commerce, entertainment, technology and life sciences.
Cloud computing is becoming more popular than ever because it helps reduce costs by hosting your data on remote servers instead of maintaining them at home or in the office. This allows you to focus on what you do best — your business — without worrying about the technical aspects of cloud computing. TriplePoint understands this, so it has invested in cloud computing companies at the growth stage.
The big benefit of this is that the firm has diversified its business operations. Within the technology field, you’ll find a variety of specialty areas. These can include security, wireless communication equipment, big data management software, a cloud computing software and services.
Cloud Stocks: Xunlei (XNET)
Xunlei is a Chinese technology and digital services company founded in 2003. It is headquartered in China.
Xunlei has been one of the top cloud computing companies in the world since it was founded. This company has expanded its reach with its innovative products and services such as cloud computing, online video, online advertising and blockchain services.
Xunlei has grown rapidly because of its focus on innovation and user-friendly interface. The company also provides security features such as encryption to ensure that their customer data is safe from hackers or other third parties. This helps to prevent the risk of any misuse of their information.
China stocks have been under strong pressure in the past few months and are now falling due to an ongoing government crackdown on monopolies and other types of unfair competition. Internet-related China stocks have seen their valuations fall by more than half.
Chinese companies like Xunlei are a great way to invest as things seem to be settling down, and they’re at a low enough price point.
On the publication date, Faizan Farooque did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.