The 4 Best Tech Stocks In 2021 Are Pioneers Of The New Economy

Whether you're swiping right on Tinder, finding a ride on Uber, or searching your files on Box, you are using Elastic. This company is for search everywhere Google is not. On top of search, Elastic has also built both observability and security products to expand its market and reach a $45 billion addressable market. While this number was set in its IPO documents in 2018, it has continued to add more products to its lineup, upping its market billions.

Just imagine Walmart sells about 156 bananas per second, and that is just one out of thousands of SKUs that is tracked using Elastic. Volvo uses Elastic for its central logging solution and Vitas mitigates risk via real-time threat detection. While we think of search as just typing in text into a box, it is much more than that with products built on top. Since most observability and security functions involve analysis of server logs, these are natural extensions of search.

Elastic has over 12,000 customers and last quarter grew revenue 44% year over year. One of the best parts about this growth is that its net expansion rate is greater than 130%. This means that even if it did not add any new customers, that revenue would still grow.

With the ongoing digital transformation, Elastic should be well-positioned as more and more data is created every day.

Cloud Computing Makes One of the Best Tech Stocks Even Better

Everyone knows the name Microsoft Corp. (NASDAQ: MSFT), and chances are you use its products every day, from Windows to Word. But over the last few years, it has transformed itself into a cloud-first behemoth. Last quarter, its cloud computing services platform, Azure, grew revenue 47%, and while they don't break out its revenue, its commercial cloud revenue topped $50 billion for the fiscal year. That makes it larger than Amazon and Google.

Microsoft is firing on all cylinders too. It's not just getting in on the cloud megatrend, but it's branching into teleconferencing and gaming. While Microsoft Teams was almost unheard of before 2020, it put a lot of effort into making the product one of the best video conference products out there. Microsoft's ability to integrate and bundle Teams with its suite of other products has also helped it gain a massive number of customers. There are 69 organizations that have more than 100,000 users and almost 2,000 that have more than 10,000 users. With more than 150 million students and teachers around the world relying on Microsoft tools, it is no wonder that Teams has taken off.

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