SAAS STOCKS RIDING THE SECOND WAVE OF DIGITALISATION
We are witnessing the dawn of a second wave of digital transformation, says Microsoft (NASDAQ: MSFT) CEO Satya Nadella. He has good reason to believe so. For the third quarter of the fiscal year ending 30 June 2021 (FY2021), Microsoft delivered a 19 per cent growth in revenue compared to a year ago and saw its profits soar by 44 per cent year on year. It’s an impressive feat, especially for a company its size. Evidently, the roll out of the COVID-19 vaccine has not stopped the US$1.9 trillion tech giant. THE BIG RUSH TO THE CLOUD The key driver behind Microsoft’s growth continues to be the shift from on-premise software to cloud-based software. Without a doubt, the pandemic has accelerated this online shift....
