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With the outbreak of COVID 19, the robotics stocks of various companies have been observed to emerge.

With the outbreak of COVID 19, the industry has seen a surge in the application and utilization of artificial intelligence. Especially robotics, as a technology have been widely used in healthcare, banking, finance and manufacturing to ease the brunt of the economic loss over businesses and organizations. With an increase in the utilization of robotics application, the provider of this technology is also making a huge amount of money.

An increase of 19% of deliveries in robots has been observed in the past five years, compared to the 5% annual growth in the last 20 years. As the companies are gaining profits with robotic stocks, here are the five companies reaping the maximum benefit. A report by Nasdaq states that the Global Robotics Market was valued at around US$34 billion, and is expected to witness CAGR of 28.5% by 2024. With the increasing utilization of robotics in coronavirus, this market is expected to grow to $23billion by 2021.

ASEA Brown Baveri

Before diving into the business of manufacturing of robots, ABB indulged in providing electrical equipment. Headquartered in Zurich, Switzerland, ABB is the first global industrial robotics company that manufactures robots in the United States of America. By 2015, the company had already invested in the local R&D, before divulging itself into robotics. The US is the largest market of ABB with an estimated sale of US$7.5 billion. Analysts have forecasted the stock price to be at a median target of US$26.91, for the next 12 months, with a high estimate of 30.93. Analyst has also observed that the stock of ABB has remained steady since August. It has been observed that its current reported earning is US$6.2 billion.

AeroVironment Inc

AeroVironment is a leading manufacturer of unmanned aircrafts systems and products such as spare equipment, alternative payload modules, batteries, chargers, repair services and customer support.

As per a report by Market Watch, it has a market cap of US$1.73 billion. A Nasdaq report states that the current quarter earning for AeroVironment is 100% and the current –year earnings have been revised to 8.6% in the past two months. The company has recently received a US$9.8 million from the NATO Support and a multi-year contract with a potential value of US$80 million.

Teradyne

In 2015, this semi-conductor manufacturer acquired Universal Robots, thus making a profit of US$285 million. Even though the robots make only 12% of the company’s total income, the stocks are growing at a rapid pace. It is observed that Teradyne shares are gaining momentum by an attractive bargain of 17.2 times more than that of 2019 earnings. Currently, the market cap of Teradyne is US$13.20 billion. It is observed that a surge of US$1 billion would be observed in the automation by 2021.

Teradyne is also building the world’s largest “collaborative robotics hub,” in Denmark, which will cost US$36 million.

Cognex

Cognex is an industrial automation company that manufactures machine-vision to automate tasks where vision is required. It is used in the automobile and Telecommunication industries to automate the manufacturing and tracking of items like mobile phones, and automobile tires. Its share price is US$55.95 and market cap is US$9.61 billion.