SKYY - （First Trust Cloud Computing ETF）

In March, I published a piece on the best cloud computing exchange-traded funds (ETFs) . For this article, I’m discussing the top cloud computing stocks for 2023. As I often like to do, I scour ETFs to develop stock ideas. In my previous piece, the funds I selected were the First Trust Cloud Computing ETF (NASDAQ: SKYY ), the WisdomTree Cloud Computing Fund (NASDAQ: WCLD ) and ARK Next Generation Internet ETF (NYSEARCA: ARKW ). I pointed to a statistic from McKinsey, which “estimates that the cloud adoption by Forbes Global 2000 companies could generate $3 trillion in EBITDA by 2030 .” Below I’ve selected three cloud stocks with high growth potential, one from each ETF. I aimed for names with at least 20% revenue growth in each of the past three years, GAAP or even non-GAAP profitability, a market capitalization of at least $500 million, an analyst rating of “outperform” or “buy,” and a target price at least 10% above where it’s currently trading. HUBS HubSpot $415.56 VEEV Veeva Systems $177.00 NVDA Nvidia $269.56 HubSpot (HUBS) Source: rafapress / Shutterstock.com HubSpot (NYSE: HUBS ) is the 19th-largest position of SKYY with a 2% weighting.

Psagot Value Holdings Ltd. Israel reduced its holdings in First Trust Cloud Computing ETF (NASDAQ:SKYY – Get Rating) by 76.4% […] First Trust Cloud Computing ETF (NASDAQ:SKYY) Shares Sold by

McKinsey estimates that the cloud adoption by Forbes Global 2000 companies could generate $3 trillion in EBITDA by 2030. That’s a big reason investors should consider the best cloud computing ETFs to buy. Sure, you could bet on Microsoft (NASDAQ: MSFT ) to win the cloud computing race, and you’d probably do just fine. However, you’re exposing yourself to significant company risk by focusing your bet on one specific company. Investing in a cloud computing ETF spreads the risk across many different companies. And as they say, a rising tide lifts all boats. VettaFi lists six U.S.-listed cloud computing ETFs . Unfortunately, that doesn’t give us a lot of options. So we’ll broaden the search to include other technology ETFs with a decent commitment to cloud computing. Here are the three best cloud computing ETFs to buy now. SKYY First Trust Cloud Computing ETF $62.73 WCLD WisdomTree Cloud Computing Fund $27.63 ARKW ARK Next Generation Internet ETF $50.91 First Trust Cloud Computing ETF (SKYY) Source: First Trust The largest cloud computing ETF by a country mile is the First Trust Cloud Computing ETF (NASDAQ: SKYY ), with $2.6 billion in net assets.

Source: iQoncept / Shutterstock Stocks have staged a huge comeback rally from its June lows, rallying nearly 10% over the past month alone. Investors have bet that any economic slowdown that does arrive in 2022 will be shallow and temporary. However, that rally ran into some serious resistance yesterday, after Walmart ( WMT ) warned that customers are spending less on everything outside of food. Deep recession fears were reinvigorated. Stocks dropped. The drop won’t last long. After the closing bell yesterday, tech titans Microsoft ( MSFT ) and Alphabet ( GOOG , GOOGL ) reported better-than-feared numbers with healthy guidance and positive management commentary. It underscored that while economic activity is slowing today, the slowdown is very gradual and shallow. They weren’t alone. Chipotle ( CMG ) reported great numbers, too. So did Visa ( V ) and solar energy leader Enphase ( ENPH ). Stocks are rebounding swiftly. As I write this, the Invesco QQQ Trust ( QQQ ) — a proxy for the tech-heavy Nasdaq — is up 1.5% in after-hours trading, recouping nearly all its Tuesday losses.

Source: iQoncept / Shutterstock Stocks have staged a huge comeback rally from its June lows, rallying nearly 10% over the past month alone. Investors have bet that any economic slowdown that does arrive in 2022 will be shallow and temporary. However, that rally ran into some serious resistance yesterday, after Walmart ( WMT ) warned that customers are spending less on everything outside of food. Deep recession fears were reinvigorated. Stocks dropped. The drop won’t last long. After the closing bell yesterday, tech titans Microsoft ( MSFT ) and Alphabet ( GOOG , GOOGL ) reported better-than-feared numbers with healthy guidance and positive management commentary. It underscored that while economic activity is slowing today, the slowdown is very gradual and shallow. They weren’t alone. Chipotle ( CMG ) reported great numbers, too. So did Visa ( V ) and solar energy leader Enphase ( ENPH ). Stocks are rebounding swiftly. As I write this, the Invesco QQQ Trust ( QQQ ) — a proxy for the tech-heavy Nasdaq — is up 1.5% in after-hours trading, recouping nearly all its Tuesday losses.

Source: iQoncept / Shutterstock Stocks have staged a huge comeback rally from its June lows, rallying nearly 10% over the past month alone. Investors have bet that any economic slowdown that does arrive in 2022 will be shallow and temporary. However, that rally ran into some serious resistance yesterday, after Walmart ( WMT ) warned that customers are spending less on everything outside of food. Deep recession fears were reinvigorated. Stocks dropped. The drop won’t last long. After the closing bell yesterday, tech titans Microsoft ( MSFT ) and Alphabet ( GOOG , GOOGL ) reported better-than-feared numbers with healthy guidance and positive management commentary. It underscored that while economic activity is slowing today, the slowdown is very gradual and shallow. They weren’t alone. Chipotle ( CMG ) reported great numbers, too. So did Visa ( V ) and solar energy leader Enphase ( ENPH ). Stocks are rebounding swiftly. As I write this, the Invesco QQQ Trust ( QQQ ) — a proxy for the tech-heavy Nasdaq — is up 1.5% in after-hours trading, recouping nearly all its Tuesday losses.