What is it ?  Its the idea of using web-based space and applications, and not on your local machine.  If you use services like Hotmail and Flickr then you are already familiar with the concept whether you realise it or not, and Google Documents further extends the use.  Other cases could be the use of online storage instead of local storage. There is big investment out there by many of the big guns, so this is something that we will see a huge increase in.

Is there a profit to be had ?

Whilst Microsoft, IBM, Amazon are all making huge investments, I fancy these 3 stock picks.

Google .. is heavily involved as you would expect and its Google Apps, Docs and Gmail is complemented by App Engine where developers can create their applications.

VMWare,  is one you may not heard of but is gearing itself up for a real go at taking market share off some of the bigger guns.

Akamai, am market leader in content delivery, this could also be one to watch.

I do not hold shares in any company mentioned here, but look forward to gaining some exposure to the cloud and some Cloud Computing Stocks.

Cloud Computing Stocks

is a topic that is gathering pace, you may have heard of it and be using it but I think the floodgates are about to open.