I bet many don’t know what Akamai Technologies does, maybe many haven’t even heard of the name. However, they were one of the companies back in the days to make the Internet happen and evolve into what it is today.
Akamai Technologies provides cloud services for delivering, optimizing, and securing content and business applications over the Internet in the United States and internationally.
Incorporated in August 1998, Akamai’s content delivery network (CDN) has more than 240,000 servers in over 130 countries and within more than 1,700 networks around the world. A CDN allows you and I surf the web, pay bills, watch videos faster and seamlessly by using edge caching, which entails storing replicas of static text, image, audio, and video content in multiple servers around the "edges" of the internet, so that user requests can be served by a nearby edge server rather than by a far-off origin server.
I really don’t know where the Internet would be today without Akamai. 85% of the world's Internet users are within a single "network hop" of an Akamai CDN server. Akamai is Trusted by:
50 percent of Global 500 companies
55 percent of Fortune 500 companies
18 of the top global e-commerce sites
91 of the top U.S. internet retailers
All branches of the U.S. military
More than 150 of the world's leading news portals
7 of the top global newspapers
19 of the top global social media sites
All of the top anti-virus companies
Akamai delivers daily Web traffic reaching more than 30 Terabits per second, Akamai delivers nearly 3 trillion Internet interactions each day, Akamai helps securely enable more than $250 billion in annual e-commerce for its online retail customers and the top online music stores have sold billions of songs… and counting… delivered via the Akamai platform.
But over the years as competition increased, like Madonna,
Akamai had to reinvent itself and stay relevant. Akamai is also in the cloud security services business. When Akamai announced earnings yesterday which beat the estimates and forecasted positive forward guidance, revenue in the security segment (which uses the same technology as CDN) increased 37% year over year and accounted for 25% of the company's total sales. Wall Street liked what they heard and rewarded Akamai with a pop in the stock.
So where is Akamai headed next, lets go to the charts?
On the monthly charts, the boundaries are $83 on the topside and $39 on the downside.
Zooming down to the weekly chart, the trend is sideways.
The chart suggests to play the extremes, and short price when price gets to the daily supply at $82 with a target at $62.
This post is my personal opinion. I’m not a financial advisor, this isn't financial advise. Do your own research before making investment decisions.
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by rollandthomas