The fundamentals for cloud software continue to be excellent. Morgan Stanley released their quarterly CIO survey today. Highlights below:

1. Growth expectations for CIO& #39;s budgets are rebounding faster than expected, with the largest growth coming from Software budgets

2. Expectations of software spending growth in 2021 saw material upward revisions from 2.6% in their Q4 survey to 4.8% in the current survey

3. The top 3 items on CIOs priority list are digital transformations, cloud computing, and data / analytics (all software focused)

4. "Data consolidating in the cloud" is listed as a key focus area. 64% of CIOs expect to begin a data consolidation effort into a cloud based data warehouse or lake over the next 3 years, vs only 20% reporting a cloud-based consolidation initiative in place today

5. Security Software and Digital Transformation were described as the most defensible IT projects, and least likely to get replaced

The roaring 20& #39;s are here...but for cloud software spending!! Screenshot from the report below. Never been more excited to be investing in cloud software businesses at their earliest stages