The three technologies that hold the most promise for investors are cloud computing, software-as-a-service and so-called “Big Data,” according to Charlie Chai, manager of the Fidelity Select Technology Portfolio, who spoke briefly on each during a conference call hosted late last week by Fidelity Investments.

Cloud computing refers to services that use networks rather than local computers to managed data and run applications. For large companies, Chai said, the cloud can replace expensive in-house data centers and IT department with services, delivered over state-of-the-art networks that are cheap, flexible, and reliable.  For consumers, cloud computing allows applications to be delivered from a remote data center to a variety of personal devices, including smartphones, tablets or PCs.

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