Amazon and Microsoft lead cloud computing boom and hit new share price highs

Two US cloud computing giants are hitting new share price highs as cloud computing continues to be dominated by US companies. In the week of 19 October with Microsoft’s Azure cloud services product doubling revenues over the same period a year ago. This mirrors the very strong performance seen in Amazon’s quarterly earnings report, with Amazon Web Services posting a78% jump in sales over a year ago. The growth of the cloud computing sector overall continues to be impressive as increasing amounts of startups take advantage of Web 2.0 to create new disruptive business models that rely on cloud computing infrastructure as their backbones.