Chromebook to keep Cloud Stocks in Investors Minds
I just read this article about cloud stocks... I understand that everything is moving to cloud computing now, but doesn't Google own-and-operate its own cloud (in fact, the largest "cloud" in existence) ??
Not sure how Chromebooks would have an impact on other cloud stocks, other than the fundamental shift in market, and being a market leader. But I think that's already known and priced in.
Google (NASDAQ: GOOG - News) is planning to introduce its Chromebook line of laptops next month, a move aimed at bolstering the search engine giant's foray into computer hardware and one that could keep cloud-computing stocks in focus. The laptops, which will run Google's Chrome operating system, will debut on June 15 in the U.S., U.K., France, Germany, Netherlands, Italy and Spain, with more countries following in the coming months, Bloomberg News reported, citing the company.
The Cloud Computing Stocks Index is up half a percent today, sharply outperforming the broader market. Google, the largest U.S. provider of Internet search services, developed Chrome to rival Microsoft's (NASDAQ: MSFT - News) Windows and Apple's (NASDAQ: AAPL - News) Mac software. The Chromebooks will start $349, Bloomberg reported.
Looking at other cloud stocks, shares of NetApp (NASDAQ: NTAP - News) are down slightly despite being upgraded to "buy" from "hold" by Canaccord Genuity. The research firm also boosted its price target on the stock to $62 from $58.50, implying decent upside from where the shares currently trade.
Shares of Salesforce.com (NYSE: CRM - News) and EMC (NYSE: EMC - News) are both up about half a percent while Riverbed Technology (NASDAQ: RVBD - News) is soaring 2%. Amazon.com (NASDAQ: AMZN - News) is lower by 1%.
Yeah, if this Google cloud really works then other companies may think their own infrastructure. I mean the Google and the government have used cloud for years, now the rest of the world will catch up.