For a time anything with dot com in its name generated the hottest tech buzz. New Internet initiatives instantly attracted tons of attention – not to mention tons of venture capital.
Those were heady days indeed with the tech heavy Nasdaq climbing as high as 5132 on March 10th 2000. Of course, we got a little ahead of ourselves and that bubble burst.
But time heals all wounds and now there's a new digital revolution that’s driving tech stocks. And it too comes with its own buzzword: smart.
We’re talking smart highways, smart grids, smart water systems – a technology invasion of the industrial complex.
Smart makes everything - from our electricity use, water consumption and morning commute - more efficient.
Analysts estimate smart technology may one day be a $20 billion market.
And companies are catching on. For example, IBM just announced plans to develop smart filtration and water management technology. Who knows, the trend may be so powerful that someday down the road, when you think of big blue you won't think servers but seawater.
And speaking of seawater, it seems smart is generating a powerful wave of opportunity. But how do you catch the wave that coming with the next digital revolution?
Although it's still early, Karen Finerman and Pete Najarian think you can dip your toe.
Take a look at Itron , counsels Karen Finerman. They make smart meters; automated meters that can send information about usage and rates. They're a huge player, and they're already embedded in their field.
Or put look at American Superconductor, a company entrenched in the transmission process, adds Pete Najarian. It's an intersting company because they're involved in the whole process of getting the energy and then passing it along.