Market News

Amazon’s AWS Causes Cloud Industry to Slip

Over the past several years, the cloud software industry has generally been viewed as an unstoppable force that can maintain impressive revenue growth in all economic environments. However, Amazon’s earnings report demonstrated that cloud computing isn’t invincible.

Indeed, Amazon’s (NASDAQ:AMZN) AWS revenue came in short of analysts’ expectations, with the firm disappointing with guidance as well. Understandably, this hit the overall cloud market, as the following cloud-themed ETFs saw declines in value today:

  • First Trust Cloud Computing ETF (SKYY)
  • Global X Cloud Computing ETF (CLOU)
  • WisdomTree Cloud Computing Fund (WCLD)

Taking a look at SKYY, which has the most assets under management out of the three, we can see that it has been on a steady decline over the past 12 months. In fact, SKYY has lost almost 30% of its value.


Tired of arriving late to the Big Returns Party?​
Most investors don’t have major gainers like TSLA or NVDA on their radar from the start.
The profusion of opinions on social media and financial blogs makes it impossible to distinguish between real growth potential and pure hype.
​​For the past decade, we have developed and perfected technology designed to help private investors, just like you, find the best opportunities, with the greatest upside potential, in any financial climate.​
Learn More