Hop on the Robotics Rocket: 3 Stocks on Pace to Triple by 2030
Robotics stocks have been making incredible strides, transforming industries as diverse as healthcare, manufacturing and human capital management. As robots become smarter and more capable, the demand for robotics solutions will continue to soar.
While the future is always uncertain, the potential of the robotics industry is undeniable. From self-driving cars to advanced surgical systems, the world is rapidly embracing robotics innovation. Investors eyeing long-term growth opportunities continue to closely monitor these companies, recognizing their potential to deliver outsized returns over the next decade.
Now, let’s unpack the top robotics stocks on pace to triple by 2030!
Nvidia (NVDA)
Nvidia (NASDAQ:NVDA) is at the forefront of the robotics revolution. The company’s graphic processing units (GPUs) are the powerhouse behind many advanced AI and machine learning applications.
Nvidia is heavily invested in developing software platforms and tools specifically for robotics applications. Its robotics platform, Nvidia Isaac, provides developers with a comprehensive suite to build and simulate robots. That helps speed up the lead time and deployment of robotics applications, which can be extremely robust depending upon the scale. With robots needing to process vast amounts of data to perceive and interact with their environment, Nvidia’s AI GPUs are an essential component of this process. Nvidia Isaac also provides a full spectrum for optimizing advancements in AI specifically tailored to robotics learning. This powerful combination of hardware and software positions Nvidia as a major beneficiary of the robotics boom.
Intuitive Surgical (IRSG)
Intuitive Surgical (NASDAQ:ISRG) is a contender for the best robotics stocks on pace to triple by 2030. The company is a leader in the field of robotics surgery, and its da Vinci surgical system holds a dominant market share.
Intuitive Surgical’s success lies in its da Vinci surgical system, an innovative platform revolutionizing minimally invasive surgery. The system enables surgeons to perform complex procedures with enhanced precision and control, leading to better patient outcomes. With a minor hiccup in 2020, the company has executed well, delivering strong revenue and earnings growth over the last decade. In its latest quarterly financial results, revenue increased 11% year-over-year (YOY) to $1.7 billion. Net income increased to $545 million, or $1.51 per diluted share, with da Vinci surgical installs hitting a record 8,887 as of March 31, 2024. With the recent approval of its next-generation da Vinci 5 system by the FDA, the future remains extremely bright.
UiPath (PATH)
UiPath (NYSE:PATH) is a market leader in robotics process automation (RPA) software. Its platform provides a user-friendly way to create and deploy software robots that can mimic human actions.
UiPath’s platform has garnered widespread acclimation, attracting a diverse range of clients across various industries. The company’s solutions cater to both large enterprises and smaller businesses, helping to ensure broad market appeal. Additionally, the market is still in its infancy stages and Grand View Research estimates the market will grow at a 40% CAGR from 2023 to 2030. The potential for UiPath to transform the way work gets done is enormous. The company also just hit a very important milestone, achieving its first profitable quarter as a public company in Q4 FY24. As automation becomes indispensable in the business world, UiPath remains one of the top robotics stocks to snap up in 2024 while it’s still cheap.
On the date of publication, Terel Miles did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
