Cloud computing has been gaining in popularity among companies as demand for smartphones and tablets continue to rise. According to research firm International Data Corporation, spending on public IT cloud services is expected to approach $100 billion in 2016 from roughly $40 million in 2012. Over the 2012 to 2016 period public IT cloud services is expected to experience a compound annual growth rate (CAGR) of 26.4%. "By the end of the decade, IDC expects at least 80% of the industry's growth, and enterprises' highest-value leverage of IT, will be driven by cloud services and the other 3rd Platform technologies." said Frank Gens, IDC’s senior vice president and chief analyst.
Citrix Systems, Inc. (NASDAQ:CTXS - News) shares traded in the range of $59.36 to $60.86 Friday before settling to close at $60.36, a decrease of 0.71 percent. The stock appears to be facing resistance at the $75.25 and $73.52 levels. Shares of Citrix Systems have fallen approximately 8.0 percent in year-to-date.
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Fusion-IO, Inc. (NYSE:FIO - News) shares traded in the range of $13.88 to $14.25 Friday before settling to close at $14.24 a share, an increase of 0.78 percent. The stock appears to be facing resistance at the $15.54 and $16.38 levels with support at $14.08. Shares of Fusion-IO have fallen approximately 37.9 percent year-to-date.
More information on Fusion-IO and access to the free equity report can be found at:
NetSuite Inc. (NYSE:N - News) shares traded in the range of $90.58 to $92.11 Friday before settling to close at $91.74, a decrease of 0.04 percent. The stock appears to be facing some resistance at $95.10 with some support at $89.26. Shares of NetSuite have gained approximately 40.0 percent year-to-date.
More information on NetSuite and access to the free equity report can be found at:
Red Hat Inc. (NYSE:RHT - News) shares traded in the range of $47.19 to $48.36 Friday before settling to close at $47.82, a decrease of 1.34 percent. The stock appears to be facing resistance at the $48.41 and $49.22 levels with some support at $47.73. Shares of Red Hat have fallen approximately 9.7 percent year-to-date.
More information on Red Hat and access to the free equity report can be found at:
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