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Barchart

Sushree Mohanty

Is This Cloud Stock Under $50 a Good Buy Now?

DigitalOcean DOCN Amazon Microsoft

The global cloud computing market is expanding rapidly, driven by increased digital transformation across industries and the growing adoption of artificial intelligence (AI) technologies. The three tech giants, Amazon (AMZN), Microsoft (MSFT), and Alphabet's Google (GOOGL), together hold a 63% market share of the global cloud computing market.

Among these larger players, one small player, DigitalOcean Holdings (DOCN), is attempting to gain a significant market share by serving small and medium-sized businesses (SMBs) and individual developers. Let’s see if this cloud stock for under $50 is a good buy right now.

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