3 Robotics Stocks to Turn $1000 into $1 Million: April 2024

Stocks to buy

Robotics and related technologies, such as workflow automation products, cloud services, and generative AI technology, have captivated the investing community. They have assisted in leading the overall market higher over this past year especially. Investors are very interested in technology companies focused on innovation and the rollout of brand-new products and services.

With the technology sector booming, it’s a perfect time for investors to jump into these robotics companies with a great future ahead of them. These stocks offer robotics technology for varying uses and have the potential for consistent growth. Investors should consider these robotics stocks to start gaining exposure to this developing industry.

UiPath (PATH)

A magnifying glass zooms in on the website homepage of UiPath (PATH).

Source: dennizn / Shutterstock.com

UiPath (NYSE:PATH) operates an automation platform based on robotic and generative AI capabilities. Its services are provided for industries such as financial services, healthcare, telecom, and manufacturing.

Over the past year, its share price has risen by 20%, partly due to improved earnings potential. It beat analyst expectations regarding its most recent earnings release.

On March 13,UiPath released earnings results for the fourth quarter of the fiscal year 2024, stating that total revenue increased by 31% year-over-year. A net loss for Q4 FY 2023 was reported at $28 million, and for Q4 FY 2024, it increased to a net income of $34 million. For Q1 FY 2025, UiPAth predicts that total revenue should be within the range of $330 million to $335 million.

On March 26, UiPath’s product for the Automation Cloud Public Sector was approved for use within the U.S. federal government.

Due to UiPath’s automation software capabilities, KeyBlanc upgraded its stock rating to overweight and set a price target of $27 per share.

UiPath is a company on the cutting edge of generative AI and robotics technology that is continuing to improve its overall automation platform for users. It could still experience upside potential since it recently became profitable following a rough couple of years from when the robotics stock started trading publicly back in 2021.

Stryker (SYK)

The Stryker (SYK) office in Fremont, California.

Source: Sundry Photography / Shutterstock.com

Stryker (NYSE:SYK) is a healthcare equipment provider that offers a wide range of medical devices, such as orthopedic treatments like joint replacement and other trauma-related surgeries, as well as implants that help treat neurological needs.

On Jan. 30, Stryker reported 2023 fourth quarter earnings with a total revenue increase of 12% and net income more than doubled to more than $1.1 billion year-over-year. Total sales for its Medsurg and neurotechnology segment increased by 12%, and sales for its orthopedic and spine segment grew by 11% within the previously mentioned time period.

On Feb. 7, SYK announced a quarterly dividend of 80 cents per share, payable to investors on April 30; this dividend increase represents a 6% jump in dividend yield compared to the previous year. Its annual dividend yield is sitting at 0.95%, with divided growth for the last 14 consecutive years.

Stryker operates a very robust and stable business based on surgical technology that should be on the radar for investors. It provided a solid dividend yield, with its share price increasing by over 15% in the last year and consistently growing over the last several years. Stryker is a robotics stock that could continue to garner huge returns in the coming years.

Symbotic (SYM)

Person holding smartphone with website of US robotics warehouse company Symbotic Inc. on screen with logo. Focus on center of phone display. Unmodified photo. SYM stock

Source: T. Schneider / Shutterstock.com

Symbotic (NYSE:SYM) is an industrial company that primarily manages supply chains in large warehouse facilities. It also provides artificial intelligence software and robotics to improve efficiency within distribution centers.

On Feb. 5, SYM reported earnings for the first quarter of fiscal year 2024, stating that total revenue increased by 79% compared to the previous year. For Q1 FY 2023, a net loss of $68 million was reported, and the deficit shrank by 81% to $13 million for Q1 FY 2024. For the second quarter of FY 2024, Symbotic anticipates total revenue to be in the range of $400 million to $420 million.

Over this past year, its share price has risen by 50%, and it has experienced consistent growth since starting to trade publicly in mid-2022.

It is a company that has substantial growth potential due to its highly sought-after products and services, innovative robotics, and generative AI technology. SYM is moving in the right direction towards overall profitability, with its net loss shrinking and revenue projections growing. Symbotic could be a winner for investors looking to jump on board a growing robotics stock.

As of this writing, Noah Bolton 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.

Noah has about a year of freelance writing experience. He’s worked with Investopedia dealing with
topics such as the stock market and financial news.

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