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OKTA Aug 2024 92.500 call

OPR - OPR Delayed Price. Currency in USD
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7.60+1.30 (+20.63%)
As of 03:39PM EDT. Market open.
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Previous Close6.30
Expire Date2024-08-16
Day's Range7.00 - 8.10
Contract RangeN/A
Open Interest4.87k
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    AI boom fading? Why IT spending data may not be adding up

    The buzz around AI has been palpable on Wall Street with much focus on its performance as tech giants like Nvidia (NVDA) led a rally with massive gains. Although much excitement for the sector still exists, there are are some who are skeptical of its performance. A note from Guggenheim securities detailed data that showed data from tech researcher ETR that shows July IT budget growth expectations are about the same as last year’s. Guggenheim senior research analyst John DiFucci joins Market Domination to discuss his note on the state of IT spending and how it affects the AI sector. DiFucci comments on his report, speaking over the narrative of AI: "There's been some conjecture out there that AI is the reason why IT spending isn't as robust as people would hope it would be, I don't think that's the case at all. There is spending on AI." DiFucci says that though he believes AI will change the world, "that doesn't mean that all tech companies are going to be able to monetize that. It doesn't mean they're going to be able to charge for it. They're going to improve their products with AI technologies and we're going to benefit. We are, all of us, the users, but are they going to be able to charge more for it beyond the uplift they get every year on renewal? I know a lot of them probably won't." Watch the video above to hear which names in the software space DiFucci likes right now. For more expert insight and the latest market action, click here to watch this full episode of Market Domination. This post was written by Nicholas Jacobino

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