Over the past four decades a variety of disruptive technologies have emerged, such as the personal computer, the internet, and smartphones. Among their many impacts, they have also transformed how businesses operate and ultimately made them leaner, more competitive, and better able to scale their operations with less friction.
Currently, one of the most disruptive technologies is cloud computing. ZDNet defines cloud computing as, “The delivery of on-demand computing services — from applications to storage and processing power — typically over the internet and on a pay-as-you-go basis.”
Companies, in all different sectors and around the world, are moving to host their data and applications on cloud platforms. In addition, companies are using cloud-hosted software to run their business. The importance of this software was demonstrated amid the pandemic and ensuing shutdowns as businesses were able to operate without in-person offices. 3 companies providing these essential cloud-based software packages are Workday (WDAY), Adobe (ADBE), and Salesforce.com (CRM).
The outperformance of Cloud Stocks
Cloud computing essentially makes massive computing power available to any sized entity. Previously, access to this type of computing power was only available to the largest entities with their own mainframes and server farms.
Corporate spending on cloud computing has surpassed all early estimates. Companies continue to find a positive ROI on these expenditures, and…