RFID tags are the next generation bar code.
Radio frequency ID technology, or RFID, promises to revolutionize everything from manufacturing to retail, much the way bar codes did a few decades ago. Like bar codes, RFID tags are used to track merchandise, but unlike bar codes, RFID technology can broadcast that information across short distances. That technology makes it possible for companies to manage their inventory with much less human intervention, reducing the amount of time it takes to track products from factory to store shelves. With so much promise, many investors are looking for a way to make money on this emerging technology.
Instructions
1. Investigate the RFID industry and get to know the companies that are players in this emerging industry. There are many different investment opportunities in the RFID field, from the companies that manufacture the chips to companies that use those chips to streamline their processes and increase their profits.
2. Consider investing in a mutual fund that concentrates on emerging technologies like RFID. Investing in a mutual fund instead of an individual stock is generally less risky and you may be exposed to some other emerging technologies that will prove to be just as important as RFID.
3. Contact your broker if you already have an account set up. Many stock brokers have stock screening tools that allow investors to screen the entire stock market for all kinds of criteria, including the firm's exposure to emerging technologies like RFID.
4. Track your investments carefully. When investing in the stock market it is important to keep track of how your funds are doing. Since RFID is still an emerging technology, you can expect the stocks doing business in this arena to be quite volatile. It is important to keep this potential volatility in mind when investing in RFID technology.
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