Weekend watchlist – Macquarie Telecom ASX:MAQ
Roger joined Philip Muscatello on Shares for Beginners Weekend Watchlist to discuss Macquarie Telecom (ASX:MAQ) which is part of a global megatrend – data centres and the cloud. Global research and advisory firm Gartner estimates in 2022 there will be an estimated $1.3 trillion in IT spend that will be affected by the shift to the cloud and this figure is expected to grow in the low double digits for years to come.
Macquarie Telecom Group is an Australian cloud, data centre, government cyber security and telecom company, with offices in Sydney, Melbourne, Canberra, Brisbane and Perth. It owns and operates five data centres in Sydney and Canberra. Macquarie Telecom generates 46 per cent of its revenue from cloud services, 47 per cent of revenue from telecom services and the remainder comes from data centre services to wholesale customers.
The Montgomery Small Companies Fund owns shares in Macquarie Telecom. This article was prepared 06 September 2021 with the information we have today, and our view may change. It does not constitute formal advice or professional investment advice. If you wish to trade any of these companies you should seek financial advice.