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Also, according to Statista, in 2021, global spending on IT services is expected to reach $1.2 trillion, an improvement of 11.2% year-over-year. Moreover, investors’ interest in the software stocks is evident from the iShares Expanded Tech-Software Sector ETF’s (IGV) 9.9% returns over the past month versus the SPDR S&P 500 ETF Trust’s (SPY) 8.2% gains.
Given this backdrop, surging software stocks Amplitude, Inc. (AMPL) and Cloudflare, Inc. (NET) could be good additions to your watchlist.
