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| Name | Investors should own application software stocks in 2024: Analyst |
| Video Uploader | Video From Yahoo Finance |
| Upload Date | This Video Uploaded At 08-01-2024 23:05:20 |
| Video Discription | Nvidia (NVDA) shares closed at another record high after announcing new AI chips at the Consumer Electronics Show (CES). Piper Sandler has pointed out in a note that Nvidia's GPU building capacity foreshadows a growth for application software-based stocks as generational AI and data processing capabilities pick up. Piper Sandler Senior Research Analyst Brent Bracelin joins Yahoo Finance to give insight into the note and why stocks like Workday (WDAY) , Monday.com (MNDY), and Klaviyo (KVYO) are some top ideas to own in 2024. Bracelin explains why there's a great investment opportunity with these stocks: "There were over 40 cloud software companies growing over 30% back in 2021. If you fast forward to next year there's only four. So growth is scarce again. We think we're entering a whole new investment cycle for these cloud application companies. This time it's really driven by the need to move these applications, these old applications where your data is locked up in on-prem software, you have to modernize to unlock the data and open up some new AI opportunities. So we're at the beginning of what we think is a big generational investment cycle." #youtube #stockmarket #investing About Yahoo Finance: Yahoo Finance provides free stock ticker data, up-to-date news, portfolio management resources, comprehensive market data, advanced tools, and more information to help you manage your financial life. - Get the latest news and data at finance.yahoo.com - Download the Yahoo Finance app on Apple (https://apple.co/3Rten0R) or Android (https://bit.ly/3t8UnXO) - Follow Yahoo Finance on social: X: http://twitter.com/YahooFinance Instagram: https://www.instagram.com/yahoofinance/?hl=en TikTok: https://www.tiktok.com/@yahoofinance?lang=en Facebook: https://www.facebook.com/yahoofinance/ LinkedIn: https://www.linkedin.com/company/yahoo-finance [sAgNk6QFUWw] |
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