Hyperscaler Rally: 4 Stocks to Buy Before It's Too Late
Now is the time to buy hyperscaler stocks as they start to break out.
Overview
After being stuck in the mud as investors worried about capital expenditures (capex), hyperscaler stocks (companies that own large data centers) are finally starting to rally. Let's look at four to buy now while their valuations are still reasonable.
Amazon (NASDAQ: AMZN) stock has been on fire ever since the company reported strong Q2 results in late July. The company's cloud computing unit, AWS, is seeing accelerating growth, and its custom chip business is gaining strong traction.
Details
AWS Q2 revenue surged 37% to $42.2 billion, while its operating income soared 63% to $16.6 billion. Meanwhile, the company said its chip and AI businesses have both reached $25 billion revenue run rates.
Source
Originally published at www.fool.com.