Cloud computing is hot. Even lay consumers who hadn’t heard of it only a year ago, not only know about cloud, but now they use it every day.
If you are an Apple AAPL iPhone user, you are probably using iCloud. If you are a Google GOOG Android user and using voice recognition, you are connecting to cloud. If you are using Microsoft MSFT Office, you are probably connecting to SkyDrive, which in essence is allowing you to work in the cloud.
Cloud computing simply means use of remote hardware and software over a network such as the Internet. The name cloud originates from a cloud shaped symbol to represent the system diagram of cloud computing.
Cloud computing provides economies of scale similar to a power utility that produces power at a central generating station and delivers electricity to customers via a grid.
Both consumers and enterprises like cloud computing because it allows them to access their applications and data through low-powered devices such as mobile phones and tablets from anywhere with Internet access. In other words, you aren’t restricted to your computer.
The hot new IPO is Workday WDAY . The IPO was priced at $28 and, as of this writing, was trading at $55.41.
Even at $28, Workday was an expensive stock. We recommended it to our subscribers to buy it in the IPO with the intention of flipping it. Due to the enthusiasm for this cloud IPO and the planned short duration of holding, the rich valuation didn’t present much of an obstacle.
We recommended selling the IPO at the first print in the aftermarket. Our subscribers sold at $48.05. Now, at $55.41, the valuation is insane…Read more at MarketWatch