Ahead of Google’s developer’s conference Wednesday the company is talking up “cloud computing.” What is it and should you trade it?
Basically, cloud computing means obtaining computing resources — processing, storage, messaging, databases and so on — from someplace outside your own four walls, and paying only for what you use, writess Michael Fitzgerald of the New York Times.
I think this is another reason why Google is the oxygen of the Internet, adds Piper Jaffray senior research analyst Gene Munster on Fast Money. These applications are designed to make our lives easier. I think they will present Google in a whole new light and as a result I’m bullish on this stock.
Another potential trade is Adobe which is developing a competitive product, he adds.
> NYT: Cloud Computing: So You Don’t Have to Stand Still
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Trader disclosure: On May 27, 2008, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders: Macke Owns (INTC), (DIS), (MSFT), (EMC), (WMT); Adami Owns (C), (GS), (INTC), (MSFT), (AGU), (BTU), (NUE); Najarian Owns (AAPL), (BHI), (BUD), (TSO), (XLF), (HPQ) ; Najarian Owns (BAC) Puts; Najarian Owns (JNPR) Calls; Finerman Owns (GS); Finerman's Firm And Finerman Own (FLS), (HD); Finerman's Firm Owns (MSFT), (SUN), (TSO), (VLO), (AAPL); Finerman's Firm Owns SPX Index Puts; Finerman's Firm Owns (C) And (C) Leaps, Finerman Owns (C); Finerman's Firm Is Short (IYR), (IJR), (MDY), (IWM), (SPY)
Piper Jaffray Is A Market Maker In (AAPL), (ADBE), (ADSK), (BIDU), (CHKP), (CNET), (GOOG), (MCHX), (MFE), (MOVE), (SINA), (SOHU), (SYMC), (VRSN) (YHOO); Piper Jaffray Received Non-Investment Banking Securities-Related Compensation From (SOHU) During The Past 12 Months; Piper Jaffray Received Non-Investment Banking Securities-Related Compensation From (MCHX) During The Past 12 Months