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Furthermore, the threatening Delta variant of COVID-19 is expected to further delay the reopening of offices, keeping fully remote or hybrid working structures as the norm in the coming months. This, coupled with the gradual 5G rollout, should drive spending on cloud services. Worldwide spending on public cloud services is expected to increase 23.1% year-over-year to $332.30 billion in 2021.
Given this backdrop, we think established cloud computing companies Alphabet Inc. (GOOGL), Salesforce.com, inc. (CRM) and Workday, Inc. (WDAY) could be ideal bets now.
