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Cloud stocks are rallying after a punishing start to the year as 2022 outlook brightens

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Cloud stocks are rallying after a punishing start to the year as 2022 outlook brightens - CNBC

Quick Summary:

Investors are again buying up cloud stocks after quarterly reports showed that demand remains strong.

Investors looking to get into beaten-down cloud stocks at bargain basement prices may have missed their opportunity.

Data-processing software developer Confluent has seen the second biggest gain, up 81% since mid-May.On Aug.3, Confluent reported a 58% increase in revenue for the second quarter and forecast growth of at least 46% for the year.

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Category: Technology

Topics: Atlassian Corporation PLC US: News Source:tagname:CNBC US Source Gitlab Inc Technology Paycom Software Inc Business Articles Toast Inc Confluent Inc Cnbc Breaking News: Technology Goldman Sachs Group Inc Shopify Inc Enterprise

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-08-12, 21:05:36

News Timezone: GMT -5:00

News Source URL:

Language: English

Reading Time: 6 minutes read

Article Length: 909 words

Coverage Area: United States

Availability: Desktop Web, Mobile Web

News ID: 134776

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