5 Best Cloud Stocks to Buy Now

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1. Microsoft Corp (NASDAQ:MSFT)

Last but not least, Microsoft Corp (NASDAQ:MSFT) tops our list of the best cloud stocks to buy now and it’s actually the most popular stock among hedge funds tracked by Insider Monkey. At the end of September, there were 306 funds holding shares of the tech giant with a total value of $72.19 billion, up from 300 funds and $69.79 billion, respectively, a quarter earlier.

Microsoft Corp (NASDAQ:MSFT)’s cloud infrastructure platform Azure is the second-largest by market share, preceded by Amazon.com, Inc. (NASDAQ:AMZN)’s AWS and followed by Alphabet Inc (NASDAQ:GOOGL)’s Google Cloud. The company is also providing its popular Office productivity products as a cloud-based software. For the third quarter of 2023, Microsoft Corp (NASDAQ:MSFT) reported revenue of $56.52 billion. From this, the company said that its Microsoft Cloud revenue (which includes Azure, Office 365 and other cloud products and services) amounted to $31.8 billion, up from $25.7 billion in the same quarter of the last year.

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