5 Best Cloud Stocks To Buy Now

1. Microsoft Corporation (NASDAQ:MSFT)

Number of Hedge Fund Holders: 250

Microsoft Corporation (NASDAQ:MSFT) is one of the biggest tech companies in the world that has shifted focus to the cloud in recent years with the launch of the Azure suite of products. It is also one of the few dependable firms in the tech sector with regards to dividend payouts. Microsoft Corporation (NASDAQ:MSFT) has registered 17 consecutive years of dividend growth, a feat unmatched in the growth industry. Despite major changes in the tech industry, Microsoft Corporation (NASDAQ:MSFT) has remained relevant with new product launches. 

Microsoft Corporation (NASDAQ:MSFT) stock has been a hedge fund favorite for years as well. Washington-based investment firm Fisher Asset Management is a leading shareholder in Microsoft Corporation (NASDAQ:MSFT)  with 25 million shares worth more than $7 billion.

In its Q1 2021 investor letter, Polen Capital, an investment management firm, highlighted a few stocks and Microsoft Corporation (NASDAQ:MSFT) was one of them. Here is what the fund said:

“We have written extensively about Microsoft in recent commentaries. It was our leading contributor last year and one of our largest weightings within the Portfolio. It continues to experience business momentum through several dominant, essential, and competitively advantaged businesses, like Office 365 and Azure. The markets it competes for are enormous, which gives the company the ability to compound at scale. In the past quarter alone, the company generated over $40 billion in revenue, representing a 17% growth rate. The inherent operating leverage in Microsoft’s business model continues and led to 34% earnings growth this past quarter. Despite the broad rotation we saw in the first quarter and Microsoft’s robust performance in 2020, we think its business fundamentals continue to exhibit strength, and the stock continues to reflect the fundamentals.”

You can also take a peek at Forget Tesla (TSLA): 10 Cheap EV Stocks to Buy Now and 15 Best Consumer Discretionary Stocks to Buy Now.

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