Cloud Computing Seen as Tech Haven Amid Pandemic Uncertainty
- Software companies and chipmakers cited as long-term winners
- Cloud-themed ETFs have outperformed the market in 2020
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The coronavirus pandemic has pressured nearly every corner of the global economy, but analysts continue to see sunny days ahead for cloud computing and the ecosystem that surrounds the technology.
The sub-sector is seen as a rare bright spot in the current environment, particularly as the outbreak pushes more people to work remotely, contributing to a long-term trend of rising demand. The boost is expected to be broad based, helping software companies, communication firms, and chipmakers that focus on data-center products, which are processors used in cloud computing.