Why Has Caterpillar Stock Soared 184% in the Last 12 Months?
It's a traditional business that has capitalized on hot opportunities with a cutting-edge technology.
Why Has Caterpillar Stock Soared 184% in the Last 12 Months?
Overview
It's always surprising when a long-standing stock in a traditional industry soars in price. Several years ago, few investors or analysts would have expected that heavy machinery and vehicle specialist Caterpillar (NYSE: CAT) would be such a title. Yet over the past year, the company's shares have nearly tripled in price, rising far more steeply than the S&P 500 index's 25%.
Talk about a sleeper stock! Let's spend a few moments discussing what's made "the Cat" so popular with the market.
Details
The main secret to Caterpillar's recent success can be summarized in two words: artificial intelligence (AI). Despite its rather dowdy public reputation (among those who know the company at all), Caterpillar is at the forefront of the revolution, bringing today's heavily in-demand technology to our computer screens and mobile devices.
Source
Originally published at www.fool.com.
