CMG - Should Investors Treat Chipotle Like It's a Tech Stock?
2024-07-21 05:10:00 ET
Chipotle (NYSE: CMG) has received considerable help from an unexpected area -- the technology industry. The company launched an enhanced digital ordering app in 2017, and artificial intelligence (AI) and robotics are playing an increasingly important role in the ordering process.
As a restaurant stock , Chipotle is far removed from the goals of an Nvidia or a Microsoft . Nonetheless, the case for treating Chipotle like a tech stock may not seem as crazy as it might appear. Here's why.
As a company, Chipotle would probably not be where it is today without technology. The aforementioned ordering app allowed customers to place orders from a device such as a smartphone and pick them up at a restaurant.
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Should Investors Treat Chipotle Like It's a Tech Stock?