All very impressive. But one category of tech stocks has surpassed all others. These stocks are what the U.S. firm Bessemer Venture Partners calls “emerging cloud” companies. In 2013, Bessemer created its BVP Nasdaq Emerging Cloud Index, or EmCloud, to track returns in the cloud sector. This year, EmCloud’s index of 52 stocks—which includes fast-growers like Adobe, Atlassian, Crowdstrike, ServiceNow, and Zoom, but excludes large cloud incumbents like Amazon, Google, Microsoft, and Oracle—is up 65%.
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