Today’s chart highlights a tech business with a powerful trend behind it…
These days, cloud services have gone beyond simple data storage to redefine how businesses operate. According to media company SiliconANGLE, cloud spending from businesses will increase 17% annually over the next several years.
For example, look at Twilio (TWLO).
Its clients use Twilio’s cloud-communications platform to meld voice and text communication into their programs.
It can even set up bots to hold conversations in real time using artificial intelligence.
And with big names like Coca Cola (KO) and Twitter (TWTR) relying on its services, Twilio’s growth has exploded.
The company reported a whopping 68% increase in year-over-year revenue for the third quarter, along with a 30% spike in active customer accounts.
As you can see, the stock is up more than 250% over the past year, and it recently hit a new all-time high. With the cloud-computing industry expected to blow past $400 billion by next year, businesses like Twilio are poised for massive growth…
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Source: Daily Wealth’s Market Notes