|Day's range||156.50 - 165.88|
Technologies like ChatGPT are helping companies realize the capabilities of their own data, R "Ray" Wang, principal analyst and founder at Constellation Research, tells Yahoo! Finance Live. The data can help inform strategies, give companies insight into the consumer, and can be used to gain huge competitive advantages. "We often joke that Topgolf was bought by Callaway -- and Callaway now has the biggest collection of really bad swing data," says Wang. "Now, what could you do with bad swing data? You can make better golf balls and golf clubs," he says. The importance of such data sets will create what he calls an "exponential advantage" compared to other companies -- but will also increase demand for computing capacity and ultimately, for more chips. "Companies will start hoarding data sets or create unique data sets," says Wang. You can watch Yahoo Finance's Rachelle Akuffo full interview with R "Ray" Wang here 00:00:14 - "In the next chip boom cycle, you'll see that as AI consumption goes up." 00:00:58 - "We often joke Topgolf was bought by Callaway" 00:01:59 - "Ethics where we can actually see the algorithms"
The Nasdaq Composite is up 12% year to date, while the Dow Jones Industrial Average is down 2%. If I had $5,000 to invest today, I would look to split it evenly across two stocks I believe can double within three to five years: Nvidia (NASDAQ: NVDA) and Microsoft (NASDAQ: MSFT). If you're an investor searching for a stock that can double, look no further than Nvidia.
Nvidia, Advanced Micro Devices and Walker Dunlop have been highlighted in this Investment Ideas article.