[ad_1]
Traders are working on the floor of the New York Stock Exchange (NYSE) on July 10, 2019 in New York. Following remarks by Fed Chairman Jerome Powell on a possible rate cut, the Dow resumed on Wednesday and the S & P 500 broke the 3,000 mark for the first time in its history.
Spencer Platt | Getty Images News | Getty Images
According to Tony Nash, CEO of the Complete Intelligence Prediction and Analysis Company, these companies could continue to grow steadily if they are willing to embrace new technologies.
"It's not just revenue growth – it's the efficiency (the gains) you get through some of these tech companies," said Nash, adding that the way Nvidia has increased the processing speed of users is "rather incredible".
While he said that Netflix, which had risen more than 450% over the same period, could see some counter because of competition from Disney and other mainstream media, D & # 039; others could continue their ascent. "Some of them see real … sustainable gains, not only on growth, but also on productivity and efficiency," he told the program "Street Signs of CNBC, Thursday.
New technologies can bring efficiency to financial services companies or in the area of procurement and supply chain management, Nash said.
If a manufacturing company can increase its revenues at a constant rate, but then it becomes more efficient in its operations and finances, it can "absolutely" reach new heights in its share price, he said. declared.
Nash said his company has taken advantage of the use of artificial intelligence and machine learning, and that this technology could lead to significant business growth.
"I strongly believe in this and I think it's sustainable," Nash said. "But it's sustainable first, in small quantities, second. Do management teams have the courage to let their businesses adopt these technologies? It's a big question. "
The pace of adoption remains to be seen, however, he said.
"It depends on how quickly these companies will want to adopt it," he said. "Will companies adopt technologies that will move workers and change their profile? I think that's the real question."
"If shareholders are aggressively pushing these executives to change their operations and their backs, I think so, we can continue to see rallies, especially with technology companies."
– Yun Li and Fred Imbert of CNBC contributed to this report.
Source link
