The Palo Alto, Calif., virtualization software pioneer is charging into its cloud-computing future thanks to addition by subtraction. Facing impossibly steep competition from Amazon’s AWS and Microsoft’s Azure, VMware unloaded its infrastructure-as-a-service business and plowed the savings into other areas with more potential. The result? A portfolio that better caters to cloud-curious corporations, whatever the approach: public, private, or hybrid. The strategic shift has been popular with investors: Its stock is up more than 40% year to date.
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