Welcome to the Cloud Wars Minute — your daily news and commentary show, hosted by Cloud Wars Founder Bob Evans. Each episode provides insights and perspectives around the “reimagination machine” that is the Cloud.
In this Cloud Wars Minute, Bob reviews the market caps for the Cloud Wars Top 10 over the last five weeks.
This Cloud Wars Minute is sponsored by Celonis, the market leader in process mining and execution management. The world’s top 2,000 process fanatics learned to fix process inefficiencies at Celosphere, the company’s annual conference, which was held November 9th and 10th in Munich, Germany. Sign up to watch the free virtual Celosphere 2022 stream here.
Highlights
00:19 — From October 4 to November 7, the market caps of legacy companies — Oracle, SAP, and IBM — all grew significantly, whereas all the other Cloud Wars Top 10 companies saw decreases. Companies like Oracle and SAP have been written off over the last several years, with claims that they “won’t make it to the cloud.”
01:06 — In Q3, Oracle’s cloud revenue was up by 45%, SAP’s by 38%, and IBM’s by 19%. The companies’ market caps demonstrate the public’s confidence in these institutions and their futures.
01:42 — Microsoft was down 8.3% in its market cap over the last five weeks. Amazon was down 21.3%, Google was down 13.2%, and Salesforce was down 5.3%.
01:58 — Oracle was up 20.6% in its market cap and SAP was up 12.5%. ServiceNow was down 7.5% and Workday was down 13.5% in its market cap. Snowflake saw a 23.2% drop, whereas IBM was up 12.8%.
02:21 — Despite the economic uncertainty in today’s world, Oracle, SAP, and IBM have shown significant growth over the last several weeks. Bob thinks this is chalked up to a few things. Both Oracle and SAP have been around for a long time and know the on-premises side of the industry as well as the cloud side. The legacy companies have formed solid, long-lasting relationships with their customers which can explain their substantial and consistent growth.
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