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A WINNER IN A GROWING SECTOR
Today, we're checking in on a company riding a powerful technological trend...
Research firm Gartner predicts that by 2020, the cloud-computing market will be worth $411 billion, nearly double what it was worth in 2016.
This technology delivers computing services over the Internet. And one of the major players in the "cloud" is $18 billion data-storage firm NetApp (NTAP)...
NetApp uses storage devices and other solutions to help its customers save, manage, and protect their data. That includes clients like tech giants Microsoft, Google, and Amazon.
NetApp's outlook is bright... Earlier this month, management announced it expects annual growth of 15% over the next three years. The company also promised to double its annual dividend and approved a $4 billion share-buyback plan.
As you can see below, NetApp shares are locked into a powerful uptrend. They're up more than 150% over the past two years alone, and this week, they hit their highest levels since the dot-com bubble.
As more companies and users turn to the cloud, this long-term trend should continue...
Source: Daily Wealth