This Surprising Cloud Services Player May Outperform

The past few years have seen a number of companies come to compete for cloud services. Most have focused around providing the hardware itself. That oligopoly looks fairly secure. But there’s still a rich environment for cloud services providers to benefit.

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  • Some are new players to the tech space, built up quickly over a few years. Other players aren’t new to the tech space, but have adapted with the times. One of those latter players is performing surprisingly strongly now.

    That company is Hewlett Packard Enterprise (HPE). The company sees itself benefitting from the explosion of data, and the company’s networking hardware and software allowed the company to just provide a strong quarter in a weak market.

    In the meantime, shares trade for less than 8 times forward earnings, and the company reports that it’s still working through a big backlog of work.

    Action to take: The company seems to be on a growth track, and if it can improve profitability, shares should be worth considerably more in the years ahead. Investors may want to start accumulating shares near current prices. Plus, the stock pays a 3.1 percent dividend at current prices.

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  • For traders, the May 2023 $19 calls, last going for about $0.55, offer investors a chance to potentially double their money or better should shares continue their rally higher.


    Disclosure: The author of this article has no position in the company mentioned here, but may trade after the next 72 hours. The author receives no compensation from any of the companies mentioned in this article.