Cloud Computing Stocks To Consider (CRM, NTAP, CTXS, AMZN, EMC, VMW)
Jeffrey Saut, Chief Investment Strategist at Raymond James (NYSE: RJF) is positive on cloud computing stocks this year, as companies will continue to look to spending money on cloud computing services, in an effort to save money.
Names being mentioned are Salesforce.com (NYSE: CRM), VMware (NYSE: VMW), EMC (NYSE: EMC), and NetApp (NASDAQ: NTAP).
Ultimate Software Group (NASDAQ: ULTI) could be be a potential acquisition target, according to Reuters, but the company said it is not looking to sell itself at this time.
Some question the valuations on these names, but there is plenty of momentum behind the sector.It will probably still emerge as a leader," said Steve Goldman, market strategist at Weeden & Co in Greenwich, Connecticut.
Fidelity's Will Danoff, who runs the $72 billion Contrafund is big fan of cloud computing names. He owns Google Inc (NASDAQ: GOOG), Amazon (NASDAQ: AMZN), Salesforce, NetApp and Citrix Systems Inc. (NASDAQ: CTXS).
"CFOs and CEOs will say 'Yes Mr. CTO, this is a good thing. We're going to save money by spending money,'" Danoff said.
Disclosure: no position in names mentioned
