America’s Last Digital Leap investment summit is Jeff Brown’s online event where Jeff will talk about a new “digital leap” and how to profit from it.
It has been fascinating to watch the impact of the pandemic on the technology sector. Of course, we all wish that it never happened.
But as perverse as this might sound, the technology companies were happy to leverage the pandemic to accelerate the growth of their businesses.
We need not look any further than Google as an example of this dynamic.
Investing in Technology According to Jeff Brown’s Near Future Report
The search and advertising giant grew its revenue 12.8% in 2020 compared to 2019. And its free cash flow grew from $30.9 billion to an incredible $42.8 billion year on year. Equally as impressive, the 2021 forecasts for free cash flow are yet another jump of more than $10 billion to $53.4 billion this year.
Google is now sitting on $136 billion in cash, which is growing at a rapid pace. So much so that the company simply doesn’t know how to allocate it and put it to use. It should be paying dividends to its shareholders.
Needless to say, business has been good.
What will Google do with all that money?
It just released its plans to invest $7 billion in growing both its offices and data centers. While $7 billion is just a drop in the bucket for a company like Google, spending excess free cash flow on large capital expenditure items is always smart… assuming the spend is for good investments.
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Google is still struggling to catch up to the cloud-based service revenues of Amazon Web Services and even Microsoft for that matter. The company brought in $13 billion in revenue, but at the expense of a negative $5.6 billion in operating income. I would say “ouch,” but for Google, that won’t even make the company flinch.
Google’s late entry into the cloud services market – a market that it should have dominated – remains a stain on the company’s reputation. It is one area that Google will continue to lose money in for years while it works to boost its standing among its competitors.
And Google is planning on hiring at least another 10,000 employees in the U.S. alone this year. This is part of its efforts to both support its existing advertising-driven business and continue to aggressively grow its cloud services division… even if at a loss.
And just like Microsoft, Google is already giving direction to its employees about returning to work.
While the company provided earlier direction that the option to work from home would be in place until September, offices will actually start opening up this summer. The current plan is for the company to require employees to work in person for at least two days a week to start.
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Google has been clear to set the expectation that employees need to plan to spend most of the week in the office.
This might come as a surprise to some. But the reality is that when companies see productivity declines from remote work, we should expect things to snap back to pre-pandemic practices quickly.
And with the vaccination rollout in the U.S. set to be pretty much completed by May, these tech companies will have cover to implement post-pandemic policies to get employees back into the office.
Ironically, a recent survey that I reviewed indicated that 86% of employees would prefer to work remotely at least two days a week starting in the fall.
This will be the great reckoning of 2021…
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What Is Jeff Brown’s America’s Last Digital Leap Investment Summit?
And while Google and other tech companies have already been profiting from the “digital leaps” that the pandemic put into motion – forcing us to adapt and use technology to deal with the new work environment – Jeff Brown sees another big “digital leap” on the horizon.
A massive $11.9 trillion industry is getting ready to go digital, which means investors should prepare now to profit…
If you’d like to find out more about this opportunity, you can go right here to sign up for Jeff Brown’s America’s Last Digital Leap investment summit, happening on April 7 at 8 p.m. ET. It’s a night you won’t want to miss.