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If you listened to Wall Street – rarely a good idea – you'd think that software firms are little more than aging dinosaurs in the tech sector.
After all, it seems like eons ago when these "dinosaurs" were scrapping hard to land prime placement for their products at brick-and-mortar stores.
However, no meteor has come along and taken out software and our need for it – far from it, in fact.
According to the analysts at International Data Corp., this cloud-computing subsector, Software-as-a-Service (SaaS), will reach $50.8 billion by 2018, up from $22.3 billion in 2013. That's an annual growth rate of nearly 18% in five years.
But one Silicon Valley legend is quietly transforming itself into a cloud-based provider of essential software tools. (I bet you use at least one of them.)
Today, I'm going to show you how this company is doing that.
And then I'll lay out how you can use it to make 100% gains in less than five years…
20 Years of Number Crunching
I'm talking about Intuit Inc. (Nasdaq: INTU), a company that's been around since 1983 – truly "eons" in the modern tech age.
This software firm has been taking the stress out of taxes and accounting with TurboTax, QuickBooks, and Quicken.
And more recently, Intuit pioneered the move to cloud-based accounting when it launched QuickBooks Online in 2001.
Today, that service has more than 1 million subscribers.
But it has much more aggressive plans for the cloud. Intuit plans to more than double its number of cloud subscribers by the end of 2017.
I'm confident it can accomplish that goal.
About the Author
Michael A. Robinson is a 35-year Silicon Valley veteran and one of the top technology financial analysts working today. He regularly delivers winning trade recommendations to the Members of his monthly tech investing newsletter, Nova-X Report, and small-cap tech service, Radical Technology Profits. In the past two years alone, his subscribers have seen over 100 double- and triple-digit gains from his recommendations.
As a consultant, senior adviser, and board member for Silicon Valley venture capital firms, Michael enjoys privileged access to pioneering CEOs and high-profile industry insiders. In fact, he was one of five people involved in early meetings for the $160 billion "cloud" computing phenomenon. And he was there as Lee Iacocca and Roger Smith, the CEOs of Chrysler and GM, led the robotics revolution that saved the U.S. automotive industry.
In addition to being a regular guest and panelist on CNBC and Fox Business Network, Michael is also a Pulitzer Prize-nominated writer and reporter. His first book, "Overdrawn: The Bailout of American Savings" warned people about the coming financial collapse - years before "bailout" became a household word.
You can follow Michael's tech insight and product updates for free with his Strategic Tech Investor newsletter.