Why Cloud Computing ETFs Are Soaring Amid Coronavirus Crisis

The coronavirus pandemic has accelerated the move to the cloud as companies are trying to support their employees working remotely. Major cloud computing providers reported surging demand for their products during the recent earnings calls.
Remote working could become the norm even after the pandemic subsides, as companies realize that it actually improves productivity. Facebook (FB – Free Report) and Alphabet’s Google (GOOGL – Free Report) , have extended their work from home policies till year end, while Twitter (TWTR – Free Report) , has told its employees that they could work remotely forever.
Cloud computing is more secure as also cheaper than traditional systems. It also provides firms a lot of flexibility and agility in scaling up or down their computing capacity according to business needs.
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