Despite the three-week losing streak, cloud computing and cloud services stocks are still up about 24 percent so far in 2012. Also, the three-week losing streak has involved relatively small single-digit losses rather than dramatic declines.
Among the news from this week:
Carbonite, the online backup and cloud storage provider, on April 19 accepted the resignation of Co-founder and Chief Architect Jeffry Flowers, effective April 30. Flowers will remain a technical advisor through August 31, and he will remain on the company's board.
Carbonite is expected to announced Q1 results on May 1. Shares have dropped from $11.02 on March 27 to $8.55 on April 20. Some investors apparently are worried about intensifying competition in the online storage and cloud-based backup and recovery market.
Meanwhile, Google shares fell 5.73 percent during the week as investors watched the Oracle Java vs. Google Android court case. Oracle claims Google Android violates copyrights on Java. The New York Times offers a recap of the case so far here.
The week's other noteworthy loser was Intuit; shares in the financial software provider fell after a company executive said sales were soft during tax season.
On the upside, CommVault shares rose as the company honored key channel partners -- including Comougen, Dell, Arrow, CDW and Avnet, just to name a few. The channel drives about 80 percent of CommVault's revenues.
Next up, the tech industry awaits Apple (AAPL) Q2 earnings on Tuesday, April 24. Although Apple is not part of our Talkin' Cloud Stocks Index, we will watch and listen for updates on the Apple iCloud strategy.