3 Robotics Stocks That Could Be Millionaire-Makers: May Edition
There are some key robotics stocks for investors to buy in May, amid the broader indices like the Nasdaq surging upwards. Some analysts expect the rally for tech stocks in general will continue.
The robotics stocks to buy mentioned in this article are powerful names, and I believe they will continue to deliver strong gains to investors. Those who get in early will reap the rewards. Investing a substantial amount in these companies could lead to seven-figure returns later on, as the growth potential of these companies is enormous.
Robotics continues to be an interesting field for investors with bountiful opportunities, which could lead them to minting new millionaires later on. A sizable investment into these firms is required to get such impressive gains, but I feel the prospect of rewards far outweighs the risks involved.
So, here are three robotics stocks to buy for May that could have millionaire-maker potential.
Symbotic (SYM)
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Symbotic (NASDAQ:SYM) leverages artificial intelligence (AI) to optimize warehouse operations for major companies like Walmart (NYSE:WMT) and Target (NYSE:TGT). The company is also exploring opportunities to bring its warehouse automation solutions to small- and medium-sized businesses, potentially unlocking a new and lucrative market segment.
The company also employs advanced robotics and AI to manage and optimize high-density storage and goods movement for major retail, wholesale and food & beverage companies.
In the first fiscal quarter of 2024, Symbotic reported a revenue of $369 million and an adjusted EBITDA of $14 million. That marks a significant improvement from the same period last year, which saw a revenue of $206 million and an adjusted EBITDA loss of $16 million.
The company’s cash and marketable securities also grew to $677 million. Looking ahead, Symbotic anticipates revenues between $400 and $420 million for the second quarter of fiscal 2024, with adjusted EBITDA expected to be between $12 and $15 million.
iRobot (IRBT)
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iRobot (NASDAQ:IRBT) is known for its popular Roomba vacuum cleaners. Despite recent challenges, including a failed merger with Amazon (NASDAQ:AMZN), iRobot has strong intellectual property and continues to innovate in the robotic home appliance market.
iRobot reported a significant year-over-year revenue decrease in its financial results for the first quarter of 2024, earning $150 million compared to $160.3 million in the first quarter of 2023. Despite these challenges, the company is focusing on operational restructuring to stabilize its financial situation.
The company has reaffirmed its financial expectations for 2024, predicting a revenue range between $825 and $865 million, with anticipated GAAP net losses per share ranging from $3.13 to $2.70. The outlook remains cautious due to ongoing economic uncertainties and the impact of recent corporate changes.
Still, I feel IRBT could be one of those penny stocks that could potentially mint new millionaires. The company’s IP is rock-solid, and it’s one of the earliest pioneers in the robotics market. I think we’ve yet to see management tap into its full potential.
Seiko Epson (SEKEY)
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Seiko Epson (OTCMKTS:SEKEY) is a top manufacturer of SCARA robots, commonly used for high-speed, high-accuracy pick-and-place or assembly operations in industrial settings.
The company reported its financial results for the fiscal year ending March 31, 2024, revealing a solid performance with annual revenues amounting to $8.68 billion. It achieved a net income of $347.68 million over the last year, with earnings per share standing at $0.56. For the most recent quarter, Seiko Epson reported earnings of $0.10 per share, meeting the earnings expectations and indicating a stable financial position.
SEKEY is planning to construct its first biomass power plant in Iida City, Nagano Prefecture, Japan, aiming for operation by the fiscal year ending March 2027. Additionally, Seiko Epson has developed a new technology in their crystal devices segment called wide amplitude low-voltage differential signaling (WA-LVDS).
SEKEY could then be one of those robotics stocks that could mint new millionaires.
On the date of publication, Matthew Farley did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
