It is one thing when Wall Street analysts are very positive on new technology or innovations in a sector. It is quite another when one of the top analysts on the street proclaims that the enterprise embrace of cloud computing platforms and other public cloud infrastructure architecture and players is the “biggest and most disruptive trend impacting the technology industry today.”

In what can only be described as a new research book, Deutsche Bank’s highly respected software analyst Karl Keirstead and his team do an exhaustive in-depth report on the industry changing effect of the cloud computing and hosting revolution on the technology enterprise world. They maintain, and have a solid thesis to back it up, that many are underestimating how fast this market will grow the public cloud transition.

Deutsche Bank has three top stocks to rated Buy in its report, and the superlatives for one are almost off the charts.

Amazon

This company is the absolute leader in online retail, as well as a dominate player in cloud storage business, and it just crushed earnings recently. Amazon.com Inc. (NASDAQ: AMZN) serves consumers through retail websites that primarily include merchandise and content purchased for resale from vendors and those offered by third-party sellers.

The company also serves developers and enterprises through Amazon Web Services (AWS), which provides computing, storage, database, analytics, applications and deployment services. Deutsche Bank flat out calls AWS “the fastest-growing enterprise technology company in history” and point out that the stock is up a whopping 60% since financials for AWS were included in the first quarter report this year. With huge growth following, the firm concedes that while others have figured out this play, it is by no mean ubiquitous at this point.

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Other Wall Street analysts have noted that Amazon had outstanding unit and revenue growth. They also cite that the online retail giant’s fulfillment advantage over peers may end up being one of the most significant silos in the company’s overall business structure.

The Deutsche Bank price target is raised to $800 from $725. The Thomson/First Call consensus price target is $718.13. The stock closed Tuesday at $625.31.
Microsoft

This top technology stock should not only do fine in the coming rising rate environment, but it gives investors some degree of mega-cap tech safety. Microsoft Inc. (NASDAQ: MSFT) stock has gapped up and down this year on earnings, and while the release of the Windows 10 has put some focus back on the software giant, some bugs in the software have cause update issues, which reportedly were being dealt with.

Deutsche Bank feels that Microsoft has become a clear number two in the public or hyper-scale cloud infrastructure market with Azure, which is the company’s cloud computing platform offering. Some have flagged Azure as a solid rival to Amazon’s AWS service. Other analysts maintain that Microsoft is discounting Azure for large enterprises, such that Azure may be cheaper than AWS for larger user.

Deutsche Bank believes Microsoft continues to make steady progress with its cloud transition and expects Office 365 and Azure to be solid contributors to top and bottom line for the next several years. While not likely to snag the top slot from Amazon, it could add huge incremental revenue for years to come.

Microsoft investors are paid a very solid 2.65% dividend, and the forward valuation remains very compelling. Deutsche Bank’s price objective is $55, and the consensus price target is $50.45. The stock closed Tuesday at $54.15.

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Salesforce

This company posted outstanding earnings for the second quarter, and it is one of Wall Street’s favorite large cap growth ideas now. Salesforce.com Inc. (NYSE: CRM) has been the momentum stock trader’s dream over the past few years. Many on Wall Street feel that while the stock trades mostly in line with its fast organic software-as-a-service (SaaS) peer group, which many see as having the largest growth rate in 2015, the company should trade at a premium to the group.

The company posted year-over-year billings growth way above estimates and has seen operating margins expand by 1.7%. Its growing portfolio of enterprise-class solutions have not only enhanced the brand, but helped to achieve access into bigger companies.

Wall Street analysts see substantial billings growth and many already have raised their fiscal 2016 estimates on both revenues and earnings. Importantly, the company’s new analytics products are factored into many 2016 estimates and could provide upside. Salesforce will report third-quarter earnings in the middle of November.

Deutsche Bank points out that Salesforce’s Platform business now generates $1 billion of annual subscription and support revenues, equal to about 16% of Salesforce’s total revenue mix. The Platform segment includes Force.com (enterprise-grade, hosted in Salesforce’s data centers) and Heroku (hosted on AWS, more of an elastic cloud, supports most new programming languages).

While many think that the company’s current growth guidance could be conservative, Salesforce is constantly a part of Wall Street takeover chatter, and that tends to keep short sellers at a distance.

The $90 Deutsche Bank price target is above the consensus target of $81.44. Share closed Tuesday at $78.63.

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While a ton of money has been made in Amazon, Deutsche Bank thinks that there is much more to come in this industry. Due to the restrictive Amazon share price, Microsoft and Cisco remain alternatives for cloud hosting and computing exposure.

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