If you dig under the handful of headlines that have driven financial media during the pandemic, you will find a sub-narrative that is just as potent and more specific. That narrative has to do with cloud computing. For anyone that has been paying attention, cloud computing has experienced massive growth during the pandemic, as the second wave of digitalization ushered in by COVID has pushed cloud computing capacity ever higher for tech companies. Much of the headlines around this center on cloud computing leader Amazon, whose web services division help powered the hyperbolic growth Zoom was able to achieve during the pandemic, for example.
FINSUM + Magnifi: In our view, the reality is that demand for cloud computing does not seem like it is going anywhere. The huge transition to digital communications and ecommerce has increased cloud computing needs and the necessity for capacity does not seem likely to abate anytime soon. Accordingly, it is easy to imagine a long-term bull market for cloud computing stocks and ETFs.
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