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Investors’ interest in the cloud industry is evidenced by the WisdomTree Cloud Computing Fund’s (WCLD) 12.5% gain over the past three months versus the SPDR S&P 500 ETF’s (SPY) 4.9% gains. With continuous innovation in artificial intelligence (AI) and machine learning (ML), the cloud industry is expected to continue growing. According to a Fortune Business Insights report, the global cloud computing market is expected to grow at a 17.9% CAGR between 2021 – 2028.
So, we think it could be wise to bet on the shares of established cloud-based companies Veeva Systems Inc. (NYSE:VEEV), Teradata Corporation (NYSE:TDC), and Brightcove Inc. (BCOV). They each have the potential to capitalize on the industry’s growth.
