Cloud Stocks: Will Google Acquire Fitbit?

This quarter has been one where most technology giants have delivered mixed results. Google’s parent, Alphabet (Nasdaq: GOOG), is no exception. Its recently reported third quarter revenues outpace market estimates, but continued investments in its cloud strategy resulted in a lower than expected earnings result. The market wasn’t too pleased, and the stock fell 1% in the after-hours session.

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Cloud Stocks: ServiceNow CEO Change Signals Focus on Acquisitions

ServiceNow (NYSE: NOW) recently announced its third quarter results that surpassed market expectations and sent the stock climbing 7% in the after-hours trading session. ServiceNow also announced a change in leadership, and investors believe that the company’s growth will continue under the new leader.

Cloud Stocks: Amazon’s Faster Shipping Hurting its Earnings

It was a surprising quarter for Amazon (NASDAQ: AMZN). For the first time in more than two years, the company saw its earnings fall. The market was clearly not impressed, and the stock fell 7% in the post announcement trading.

Investors Expect More From Microsoft’s Cloud

According to Canalys, the worldwide spending on cloud infrastructure services grew 38% over the year in the second quarter of the year to $26.3 billion. Amazon remains the leader in the market with a 31.5% market share. Microsoft (Nasdaq: MSFT) is a distant second with 18.1% market share. Microsoft is driving hard on its cloud initiative. Its recent quarterly results surpassed expectations on all fronts but failed to surpass the strong cloud expectations set by the market. Despite the overall impressive results, the stock did not move much.

Scale AI Simplifies Data Labeling To Reach Unicorn Status

According to a Markets and Markets report, the global AI market is estimated to grow at 37% CAGR to reach $190.6 billion by 2025. The growth in the industry is expected to be driven by the growing adoption of cloud-based applications and services and the growth of intelligent virtual assistants and big data. San Francisco-based Scale AI is a Unicorn in the market that is helping promote the growth and adoption of AI-based technology.

Cloud Stocks: SAP Riding High on the Cloud

Earlier this week, ERP giant, SAP (NYSE: SAP) announced its third quarter results that surpassed market expectations and sent the stock climbing. The market is very pleased with SAP’s strong cloud initiatives.

Cloud Stocks: Time For Skepticism with Netflix

Netflix (Nasdaq: NFLX) has had a tumultuous year so far. The stock has lost nearly 20% of its value since the beginning of the year. Increasing competition from rival and upcoming players in the streaming space are raise concerns over Netflix’s ability to keep growing, especially in the domestic market.

Atlassian Acquires Again From App Marketplace

According to a recent MarketsandMarkets report, the global enterprise collaboration market size is projected to grow from $31 billion in 2019 to $48.1 billion by 2024 at a CAGR of 9.2%. Billion Dollar Unicorn Atlassian (Nasdaq: TEAM) is a leading service provider in this market, which recently reported first quarter results that just about beat estimates.

Cloud Stocks: IBM Banks on AI

Earlier this week, IBM (Nasdaq: IBM) declared its third quarter results that exceeded earnings expectations despite missing revenue estimates. The stock fell nearly 5% post the result announcement in the after-hours session.

Blackbaud – 1Mby1M Social Good Startup Challenge Launches

Blackbaud, the world’s leading cloud software company powering social good, and the One Million by One Million (1Mby1M) global virtual accelerator have come together to launch the Blackbaud – 1Mby1M Social Good Startup Challenge.

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