3 Robotics Stocks to Buy and Hold Forever: January 2024

Stocks to buy

The robotics sector is on the brink of an extraordinary boom, with MarketsandMarkets projecting its value to skyrocket from $17.0 billion in 2023 to $32.5 billion by 2028. This steep ascent is just the beginning. Clearly, these numbers vividly illustrate that robotics stocks are becoming a magnet for forward-thinking investors.

Moreover, robotics transcends mere technological advancement. In actuality, the evolving market is heralding a significant revenue surge for companies in this domain. The next decade could see a multi-fold profit increase, making a compelling case for investor optimism.

So now, let’s identify stocks flourishing in this burgeoning field and primed for long-term growth. The time is ripe for aligning investments with this technological wave, making robotics stocks a smart addition to any forward-looking portfolio.

UiPath (PATH)

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UiPath (NYSE:PATH), a powerhouse in the robotics and AI arena, has soared this year, with its stock reflecting robust financial health.

Further, the company’s latest earnings report reveals a 24% year-over-year (YOY) jump in annual recurring revenue (ARR) to $1.38 billion. Also, it shows a 244% increase in non-GAAP operating income, reaching $44 million. PATH’s gross profit margin of 84.39% far exceeds the sector’s median of 49.06%. Therefore, this performance illustrates UiPath’s exceptional fiscal stability.

Further bolstering its position, UiPath recently introduced “Project Wingman” and “UiPath Autopilot.” These innovations enable users to create automation processes through natural language and streamline daily tasks using AI. This allows PATH to enhance its technological prowess.

Moreover, UiPath’s strategic partnerships, like the one with SAP, and its focus on expanding AI capabilities through its Business Automation Platform, are critical for growth. These steps demonstrate UiPath’s commitment to maintaining its lead in the high-stakes world of robotics and AI, making it a strong contender in the stock market.

Nvidia (NVDA)

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AI titan Nvidia (NASDAQ:NVDA) is rapidly emerging as a top pick in the 2024 robotics stock market. It had a staggering 200% surge in shares YOY in 2023. Nvidia’s dominance as the premier AI chip supplier hints at the untapped potential of their robotics platform. In particular, Nvidia Isaac is a comprehensive tool for developing advanced robotics applications.

Also, the introduction of Nvidia’s Omniverse Cloud, featuring Isaac Autonomous Mobile Robots (AMRs), marks a significant advancement in robotics. These AMRs are equipped with cutting-edge mapping and fleet optimization technologies. Thus, they demonstrate Nvidia’s commitment to integrating AI into practical, human-centric robotic applications.

Navigating the complex and capital-intensive landscape of robotics development, Nvidia continues to push boundaries. TipRanks analysts assign a robust 13% upside potential for Nvidia’s stock, reflecting confidence in its innovative robotics solutions. This optimism underscores Nvidia’s potential to redefine the future of robotics. Therefore, this makes it a compelling choice for investors keen on robotics.

Stryker Corporation (SYK)

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Stryker Corporation (NYSE:SYK) is a trailblazing force in medical technology. It has exhibited unwavering brilliance in the robotics sector, delivering an astounding 89% return over the past five years. Despite a 15% dip in net income to $692 million, the company reported a 10% YOY revenue bump to $4.91 billion in Q3. This showcases its resilience in a dynamic financial landscape.

In the realm of medical robotics, SYK’s Mako SmartRobotics system is a game-changer in orthopedic surgery. It offers unparalleled precision and improved clinical outcomes. The company’s commitment to robotics research and development positions it for continued success and advancements.

SYK’s holistic approach encompasses comprehensive training systems and medical education. Additionally, it promotes the adoption of robotic technology in surgeries while aligning with modern medical standards. This strategy solidifies Stryker Corporation’s leadership in the evolving healthcare landscape. SYK is it an attractive investment choice for those interested in the robotics segment of the medical technology industry.

On the date of publication, Muslim Farooque did not have (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

Muslim Farooque is a keen investor and an optimist at heart. A life-long gamer and tech enthusiast, he has a particular affinity for analyzing technology stocks. Muslim holds a bachelor’s of science degree in applied accounting from Oxford Brookes University.

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