Time for Cloud ETFs on Earnings Strength & Promising Growth?
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 17 2024
0mins
Should l Buy BABA?
Source: NASDAQ.COM
- Cloud Computing Market Growth: The global cloud computing market is projected to grow from $626.4 billion in 2023 to $1.27 trillion by 2028 at a CAGR of 15.1%, driven by remote work and e-commerce demands.
- Key Players in Cloud Computing: Microsoft, Google Cloud, and Amazon Web Services dominate the global cloud infrastructure market, collectively accounting for 67% of the $76 billion market in Q1 of 2024.
- Financial Performance of Cloud Leaders: Microsoft's Intelligent Cloud business generated $26.7 billion, AWS had revenues of over $25 billion, and Google Cloud reported sales of $9.6 billion in Q1 of 2024.
- Market Share and Growth Forecasts: AWS leads with a 31% market share, followed by Microsoft (25%) and Google (11%). Global end-user spending on public cloud services is expected to reach $678.8 billion in 2024.
- ETFs and Investment Opportunities: ETFs like Wisdomtree Cloud Computing Fund, Global X Cloud Computing ETF, and others have seen gains amid the cloud computing boom, offering investment opportunities in the sector.
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Analyst Views on BABA
Wall Street analysts forecast BABA stock price to rise
15 Analyst Rating
15 Buy
0 Hold
0 Sell
Strong Buy
Current: 125.460
Low
180.00
Averages
203.09
High
230.00
Current: 125.460
Low
180.00
Averages
203.09
High
230.00
About BABA
Alibaba Group Holding Ltd is an investment holding company mainly engaged in the provision of technology infrastructure and marketing platforms. The Company operates its business through four segments. The Alibaba China E-commerce Group segment is mainly engaged in E-commerce business, including operating Tmall Supermarket and Tmall Global, providing customer management services, product sales, as well as logistics services. It also operates quick commerce business such as Taobao Instant Commerce and Ele.me, as well as the China commerce wholesale business through 1688.com. The Alibaba International Digital Commerce Group segment is mainly engaged in international commerce retail and wholesale business, operating platforms such as AliExpress, Trendyol, Lazada and Alibaba.com. The Cloud Intelligence Group segment mainly provides public and non-public cloud services. The Other segments primarily include the operations of Freshippo, Cainiao, Alibaba Health and other business.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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