First Trust Cloud Computing ETF [SKYY] Stock Forecast

Designed to provide broad exposure to the Technology - Cloud Computing segment of the equity market, the First Trust Cloud Computing ETF (SKYY) is a passively managed exchange traded fund launched on 05/27/2011.

Launched on 05/27/2011, the First Trust Cloud Computing ETF (SKYY) is a smart beta exchange traded fund offering broad exposure to the Technology ETFs category of the market.

First Trust Cloud Computing ETF invests in cloud computing companies. The fund is not overvalued on the basis of its underlying earnings capacity.

Cloud will see belt-tightening in 2023, and investors will have to gamble on the timing for when this turns around. Cloud is insulated from trade wars and overseas manufacturing issues. It reduces costs for enterprises, which is ideal for a recession.

Sector ETF report for SKYY

McKinsey estimates that the cloud adoption by Forbes Global 2000 companies could generate $3 trillion in EBITDA by 2030. That's a big reason investors should consider the best cloud computing ETFs to buy.

Smart Beta ETF report for SKYY

Cloud computing stocks held by First Trust Cloud Computing ETF look oversold on the charts. Although valuations remain pricey.

Sector ETF report for SKYY

Smart Beta ETF report for SKYY