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Technology Stocks
Cloud Stocks: Microsoft’s Momentum in Commercial and Cloud Keeps it Steady
Last week, Microsoft (NASDAQ: MSFT) reported results for its fourth quarter which missed analyst estimates. This was its slowest quarterly growth since 2020 as worsening foreign exchange rates and weakness in PC demand and advertising spending took a toll. However, it provided a resilient outlook of double digit growth for FY23 based on sustained momentum in its cloud business.
>>>Cloud Stocks: Google Hones its Search Tech
Google’s (Nasdaq: GOOG) recent second-quarter results failed to meet the market’s expectations. The company is feeling the impact of macro-economic conditions as organizations brace themselves for the rising costs amid inflationary pressures.
>>>Cloud Stocks: Snowflake Leverages the Streamlit Acquisition
According to a recent report, the Big Data market is projected to grow at 11% CAGR from $162.6 billion in 2021 to $273.4 billion by 2026. San Mateo-based Snowflake (NYSE:SNOW) is a leading data warehouse solution provider that recently announced its quarterly results.
>>>Cloud Stocks: monday.com Builds Capabilities for its App Marketplace
According to a recent report, the digital transformation market is estimated to grow at 22% CAGR to reach $3.55 trillion by 2028. Israel-based monday.com (Nasdaq: MNDY), which went public last year, provides organizations with cloud-based solutions to drive this digitization. It recently reported strong first quarter results.
>>>CLEAR Leverages Whyline Acquisition for Growth
As the pandemic restrictions have eased, air travel has increased significantly. The number of air passengers carried from January to April 2022 increased by 65%, while aircraft flight departures increased by 30% during this period. Recently listed CLEAR (NYSE: YOU) is a leading provider of biometrics screening for security services used especially at airports. The company is benefiting from this increased travel.
>>>ThoughtWorks Continues to Acquire
According to a recent report, the US-based IT consulting market is estimated to grow 2% to $546.9 billion market in 2022. Recently listed tech consultant company ThoughtWorks (Nasdaq: TWKS) is expanding its market presence through acquisitions and partnerships.
>>>Cloud Stocks: Expensify Tests Other Services for Growth
The global expense management software market is expected to grow at 12% CAGR to reach $6.6 billion by 2025 driven by the continuing centralization of enterprise expense-related data. Centralizing all-expense-related data along with utilizing expense management software provides organizations with the ability to review, monitor, and manage expense reports on the go. While the market remains dominated by bigger players like SAP Concur, Sodexo, and Intuit, Expensify (Nasdaq: EXFY) is a smaller player that went public last year.
>>>Netflix Widens Offerings and Subscription Plans
Earlier this week Netflix (Nasdaq: NFLX) reported its second quarter performance that failed to impress the market. The company continues to lose subscribers, albeit at a lower pace, and is looking at alternate revenue sources to drive growth.
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