More and more companies have moved to remote work because of the COVID-19 pandemic and, as an investor, you should know a few of the best cloud computing stocks to buy in 2020.

Millions of Americans are now forced to work from home as the spread of the novel coronavirus tightens its grip on how we do our work.

Investors can find profit in the fact that we’ve been forced to change the way we conduct business.

One of the best profit centers for this is seeking out cloud computing companies to invest in.

Now, cloud companies can range from storage to software-as-a-service. For the purposes of this, we will focus on those businesses that use their powerful computers and software platforms to process business workloads remotely via the web.

3 Cloud Computing Stocks to Buy in 2020

1. Microsoft Corp.

Market Capitalization: $1.2 trillion

Annual Sales (2019): $125 billion

Annual Dividend Yield: 1.27%

Perhaps the biggest player in the cloud game is Microsoft Corp. (Nasdaq: MSFT).

Its Azure application helps with the building, testing, deploying and managing applications and services through Microsoft-managed data centers.

Recently, the company said there has been a 775% increase in the usage of its cloud services.

cloud computing stocks to buy

Microsoft of course suffered a downturn along with all three major U.S. indexes as they fell into bear markets.

That said, the company has rebounded faster than most — jumping nearly 20% after hitting a low on March 16.

Currently, Microsoft trades with a price to earnings of 27.9. Its price to sales is 9.1 and the price to book is 11.1. That means it remains a good value for investors.

The only real drawback to Microsoft is its share price. It has traded as high as $188 and as low as $135, but it still creates a solid investment.

As more and more businesses shift to remote work, Microsoft’s Azure platform will continue to grow. That’s what makes Microsoft Corp. one of the three cloud computing stocks to buy in 2020.

2. Amazon.com Inc.

Market Capitalization: $977 billion

Annual Sales (2019): $280 billion

Annual Dividend Yield: 0.00%

While it may be best known for its e-commerce platform. Amazon.com Inc. (Nasdaq: AMZN) is another big player in the cloud computing game.

The Amazon Web Services platform includes 175 different services from data centers around the world. They include computing, storage and artificial intelligence.

AWS has 70 availability zones across 22 geographic regions around the world.

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Amazon suffered in the coronavirus-related sell-off in early March, but it has rebounded nicely — jumping 16% in the last half of March 2020.

However, if you think Microsoft Corp. is too expensive to get into, Amazon is even higher — much higher. It’s trading range during the COVID-19 selloff has been between $1,676 and $1,950 a share. It’s been as high as $2,170 recently.

Its price to earnings is 85, but its price to sales is 3.5 and its price to book is 15.7. The recent dip has given Amazon some room to run.

While the company is buoyed by its e-commerce business, the cloud computing side continues to grow. That’s why Amazon is one of the three cloud computing stocks to buy in 2020.

3. Oracle Corp.

Market Capitalization: $158 billion

Annual Sales (2019): $39 billion

Annual Dividend Yield: 1.91%

If you aren’t thinking about Oracle Corp. (NYSE: ORCL) in the cloud computing space, you really should be.

Its cloud infrastructure includes computing, storage, application development, networking and integration.

Oracle has also built one of the first “self-driving” databases which works autonomously.

cloud computing stocks to buy

The company’s recent dip was pretty significant as its share price fell almost 30% in less than a month. However, it has rebounded nicely — gaining 21% since the drop.

Of the three companies on our list, Oracle is the most inexpensive. It trades at around $49 per share. That is well above its 52-week low with plenty of room before reaching its high price.

Its price to earnings is 15.2. It also trades with a price to sales of 3.8 and a price to book of 10.7. It is the most undervalued and affordable of the three companies.

It’s what makes Oracle Corp. one of the three cloud computing stocks to buy in 2020.

While there are several cloud computing companies out there, these are the three that stand out — and of course two are the most obvious.

They are all in growth mode and rebounding from the COVID-19 market drop. That indicates a strong ability to weather any future economic downturns.

And, as more and more businesses move to remote work, these are the companies that stand to gain the most.

That’s why these are the three cloud computing stocks to buy in 2020.

Editor’s note: Looking for stocks to buy not on our list or have some good suggestions? Let us know in the comments section below.

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