Cloud Computing Stocks Now Up 23% In 1Q 2012

By samdizzy

cloud computing stocks

The biggest weekly winners were…

Carbonite (CARB, +17.57%): The cloud backup provider is generating buzz around the so-called World Backup Day, which is scheduled for March 31. Carbonite claims over half of Americans surveyed have experienced a crash where they have lost their data forever.

Amazon (AMZN, +5.4%): The online retailer acquired a robot company to help further automate its warehouses. Moreover, Amazon partnered with Eucalyptus to ensure compatibility between public and private clouds. Still, Talkin’ Cloud believes Amazon pursued the deal because of growing competitive threats from OpenStack, another open source cloud platform.

CoreSite Realty Corp. (COR, +5.26%): SeekingAlpha last week noted that data center stocks are beating the broader market performance. Later in  the week, CoreSite declared a quarterly dividend. CoreSite plans to hold an annual shareholders meeting on May 16. In the meantime, data center providers are enjoying a cloud computing lift.

The biggest weekly loser was Intuit (INTU, -4.04%). The company said demand for its tax season software continues to grow — but perhaps not fast enough to please Wall Street.

As a reminder: Talkin’ Cloud does not make buy, sell or hold recommendations. Rather, the Talkin’ Cloud Stocks Index strives to offer readers a weekly reality check vs. cloud computing hype.

The Talkin’ Cloud Stocks Index is up 23.40 percent so far in 2012. But here’s a healthy reminder to readers: Cloud computing stocks jumped just about the same percentage in Q1 2011 before a market correction erased all of those gains in Q2 2011.