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3 Cloud Computing Stocks to Buy in January

January 09, 2020 / Billy Duberstein
SHARESHARESHARE

In terms of cloud infrastructure leadership, search engine leader Alphabet has been a laggard, behind leaders Amazon.com and Microsoft. However, the search engine's fortunes could be changing in 2020. Alphabet has been making heavy investments in its Google Cloud platform over the past year, with the company hiring Oracle veteran Thomas Kurian in late 2018 to get its cloud platform and sales force up to par.Pivotal Research analyst Michael Levine believes that 2020 will be the year that Kurian's efforts will come to fruition, with Levine recently raising his price target on Alphabet from $1,445 to $1,650, compared with just a $1,400 stock price today.Alphabet doesn't report its cloud revenue on a stand-alone basis just yet, instead grouping it with its hardware and app store sales in a category called "Google Other." Last quarter, that segment grew 38.5% to $6.4 billion, though it's highly likely that Cloud grew much faster than the overall category.With CEO S...