Cloud Calling Makes This ETF an Interesting Tech Rebound Idea

Technology has held up well on a relative basis as markets are tanking this year and tech departments still need to spend on cloud products, scenarios that could prop up the Global X Cloud Computing ETF (Nasdaq: CLOU) going forward.The $395 million CLOUD, which tracks the Indxx Global Cloud Computing Index, turns a year old later this month and is positioned to capitalize on a growing industry.The cloud computing industry refers to companies that (i) license and deliver software over the internet on a subscription basis (SaaS), (ii) provide a platform for creating software applications which are delivered over the internet (PaaS), (iii) provide virtualized computing infrastructure over the internet (IaaS), (iv) own and manage facilities customers use to store data and servers, including data center Real Estate Investment Trusts (REITs), and/or (v) manufacture or distribution infrastructure and/or hardware components used in cloud and edge computing activities.The public cloud is viewed as an important driver of cloud computing growth in the coming years.