In the artificial intelligence (AI) investing world, the cloud computing providers are one of the primary beneficiaries.
These are the companies spending hundreds of billions of dollars on data centers purpose-built for AI computing, but expect to make all of that money back — and more — as the computing capacity is rented out to clients
The big three in this realm are Amazon (NASDAQ: AMZN), Microsoft (NASDAQ: MSFT), and Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL). Each of these companies just announced results, and delivered incredible results, which shouldn’t come as a surprise to anyone. I think these are among the best stocks to buy now and hold for the next decade, even after any gains following a post-earnings pop.
Each company just crushed cloud computing results Starting with the largest, Amazon Web Services (AWS) had a very strong quarter. Wall Street analysts only expected AWS to deliver 31% growth; instead, it came in at 37%. This shows the strength of Amazon’s business and how it’s well-positioned to maintain its title as the largest cloud computing provider.