What are the best robotics and artificial intelligence stocks to buy today? In this time of uncertainty characterized by volatile market movements, economic contraction, and spiraling unemployment, finding stocks to put your money into seems like an arduous task. Some investors might think that the stock market is acting irrationally and puzzled by the quick recovery of stock prices sin the end of March. The market’s movements isn’t far away from economic realities. Economic reality is that long-term real interest rates are negative, the Federal Reserve is flooding the market with cheap credit, and the current economic slowdown is temporary.
This is the perfect environment to buy technology stocks which aren’t negatively affected by the coronavirus induced lockdowns and economic slowdown. In this article we are going to take a look at the top 5 robotics and artificial intelligence stocks to buy. We are on the cusp of a technological revolution that will fundamentally change how we live our lives. Recent advancements in machine learning and artificial intelligence will open the door to robots, driving cars, and many other inventions that we can’t even imagine today. So, we decided to take a look at the best robotics and AI stocks to buy in order to generate high returns as the companies bring new products in to the marketplace.
In order to compile this list of best robotics and AI stocks to buy we started with top 15 stocks in the Global X Robotics & Artificial Intelligence ETF (BOTZ). According to its website this ETF “seeks to invest in companies that potentially stand to benefit from increased adoption and utilization of robotics and artificial intelligence (AI), including those involved with industrial robotics and automation, non-industrial robots, and autonomous vehicles”.
Savvy investors have used hedge funds as a litmus test to gauge the profitability of stocks and to know the trajectory of market sentiment. Research carried out by Insider Monkey has shown that a select group of hedge fund holdings have consistently outperformed the S&P 500 ETFs by more than 56 percentage points since March 2017 (see the details here). As such, hedge fund sentiments are undoubtedly a useful indicator that experienced investors should pay attention to.
Based on hedge funds sentiment, we present 5 most popular robotics and AI stocks among the 800+ hedge funds tracked by Insider Monkey.
5. John Bean Technologies Corporation (NYSE: JBT)
John Bean Technologies Corporation (NYSE: JBT) provides technology solutions to the food and beverage industry, including equipment and services to air transportation industries. The company has a market capitalization of $2.995bn. This stock has underperformed by -18.4%. In 2020, Q1 John Bean Technologies Corporation (NYSE: JBT) released quarterly earnings of $1.09 per share. This compares to earnings of $1.42 per share a year ago
The company is poised to gain from focus on developing innovative products and services and expanding the aftermarket business on the effects of the pandemic are over. The management also aims to continue its ‘Elevate Plan’ aiming to drive persistent growth and margin expansion and strategic acquisition programs. Growing demand for protein, beverages and ready-to-eat meals are likely to act as key catalysts in the long haul.
John Bean Technologies Corporation (NYSE: JBT) is in the portfolio of 12 hedge funds. Royce Associates has the biggest position in JBT in our database. Adage Capital and Citadel are also invested in this stock but they have been trimming their holdings more recently.