The 4 Best Software Stocks to Buy in June By StockNews
© Reuters. The 4 best software stocks to buy in June
The demand for advanced software is increasing globally, with huge investments by companies in cloud computing and digital transformation. So, we believe established software companies Microsoft (MSFT), Oracle (ORCL), Salesforce (CRM), and SAP SE (DE 🙂 (SAP) are expected to outperform the broader market this month and beyond. Read on. Because the adoption of remote work as a measure to stay up and running amid the COVID-19 pandemic has proven to be beneficial for many businesses – delivering higher productivity and lower overhead costs – businesses are now focusing on the development of permanent hybrid work structures as several countries relax social distancing protocols. According to the Microsoft Trend Index 2021, more than 70% of employees want flexible remote working options, and 66% of business decision makers are in the process of adopting hybrid work structures for the foreseeable future.
Therefore, the demand for software has increased dramatically to meet the needs of organizations as they rethink their operational structures. According to Statista, the global software industry is expected to grow at a CAGR of 7.4% over the next four years to reach $ 772.45 billion by 2025.
Against this backdrop, the current tech selloff provides an excellent opportunity for investors to pick up shares of major software companies Microsoft Corporation (NASDAQ :), Oracle Corporation (NYSE :), Salesforce.com, Inc. (NYSE :), and SAP SE (SAP).
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