Software
Best-of-Breed Cloud Hints More Slowing Growth to Come for 2023
Analysts are also maintaining high growth estimates despite weak Q4 guidance. We highlighted that up above, but here’s how the data compares on an individual level for the top 10 stocks. Looking at this data, it would appear as though cloud is quite resilient. Yet, the Q4 guidance is out of character as we see a 2/3 decline in average sequential growth rate from 17% to 5%. This is the more severe drop off because Q4 2021 was much better than Q2 2022 in terms of the economy. However, my contention is that Q4 could be reflecting what is to come in 2023 rather than a reflection of budgets from 2022 as the slowdown is more pronounced in Q4 than it has been in previous quarters from 2022
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