Jul 13, 2023
Cloud software stocks positioned to rise with artificial intelligence boom: Analyst
, BNN Bloomberg
Hot Picks: Three cloud stocks to consider
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The cloud software sector has kept with Nasdaq market performance as demand for these products has been pushed higher through the use of artificial intelligence, one analyst says.
Speaking with BNN Bloomberg’s Amber Kanwar on Thursday, Mike Genovese, senior research analyst at Rosenblatt Securities, said cloud software has become an integral part of our everyday lives, especially after the pandemic caused more of a reliance on digital services. He believes the industry will get a second push from the introduction of AI.
“Now with AI we have yet another driver of what’s next in the cloud for building these big data centres networks. I’m really focused on the networking equipment that goes inside these data centres,” Genovese said.
He recommend Extreme Networks Inc. (EXTR), Viavi Solutions Inc. (VIAV) and Infinera Corp. (INFN) as his top three stock picks within the cloud industry.
Genovese, his family, his firm and his investment banking clients do not own any shares of the stocks mentioned above.
Check out the full video at the top of the article to learn more.
Speaking with BNN Bloomberg’s Amber Kanwar on Thursday, Mike Genovese, senior research analyst at Rosenblatt Securities, said cloud software has become an integral part of our everyday lives, especially after the pandemic caused more of a reliance on digital services. He believes the industry will get a second push from the introduction of AI.
“Now with AI we have yet another driver of what’s next in the cloud for building these big data centres networks. I’m really focused on the networking equipment that goes inside these data centres,” Genovese said.
He recommend Extreme Networks Inc. (EXTR), Viavi Solutions Inc. (VIAV) and Infinera Corp. (INFN) as his top three stock picks within the cloud industry.
Genovese, his family, his firm and his investment banking clients do not own any shares of the stocks mentioned above.
Check out the full video at the top of the article to learn more.
