Equinix (EQIX) shares are on fire thanks to one industry trend: digitalization.
From legacy companies like General Electric's (GE) emphasis on digital to unicorn companies like Airbnb and Uber, which are solely built on digital platforms, Equinix is at the center of these trends as a cloud infrastructure company.
"The companies that were born on the cloud, that's a whole different set of companies and they're growing very fast," said Equinix CEO Steve Smith in an interview with TheStreet, adding that these companies are paying for cloud storage just like consumers pay for electricity.
More From TheStreet:
- Charles Schwab's Liz Ann Sonders: This Stock Market Rally Is Not Based on Trump Tax Reform
- Utah Senator Mike Lee Previews Thursday's Hearing With Former FBI Director James Comey