In the video below, tech and telecom analyst Andrew Tonner explains three reasons why Nuance Communications (NASDAQ:NUAN) will likely grow. First, its speech recognition technology is the best in the business. It can translate over 60 languages and dialects and thus has worldwide licensing potential. Second, speech recognition software is spreading into consumer electronics. Apple already uses Nuance with Siri -- iTV and iWatch are likely to follow. Other companies are following suit. Finally, there is huge potential in the health care industry. As financial pressures grow, voice recognition technology could be used to cut labor costs.
Andrew Tonner owns shares of Apple. The Motley Fool recommends Apple and Nuance Communications. The Motley Fool owns shares of Apple and Nuance Communications. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.