Goldman Sachs picks the Chinese cloud stocks to buy as internet users soar
Analysts at Goldman Sachs have picked three Chinese cloud stocks set for strong growth, with potential upsides to their share prices of more than 50%. China’s online population surged during the pandemic and by the end of last year it had nearly 1 billion web users. Internet companies reaped the benefits; Douyin, the Chinese version of short-video sharing app TikTok, for instance, hit 600 million daily active users. But these web giants — TikTok-owner ByteDance, Alibaba, Microsoft and the like — rely on data centers to host their vast cloud computing operations, and Goldman has identified three stocks in the space with big potential. Goldman’s buy-rated picks, all due to report earnings in the coming weeks, are: https://www.cnbc.com/2021/05/17/china-tech-stocks-goldman-sachs-names-its-buy-rated-cloud-shares.html
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