Tesla
For the most part, Tesla (TSLA) is recognized as an electric vehicle manufacturer. However, as evidenced by Rogan’s reaction, the company is also making significant strides in the robotics arena.
In fact, Musk recently tweeted “Tesla is an AI/robotics company that appears to many to be a car company.”
Tesla's shares have experienced considerable volatility as one of the market's most dynamic mega-cap names. They doubled in value in 2023 but have seen a decline of almost 20% so far in 2024.
Wedbush analyst Dan Ives sees a revival on the horizon. Ives has an “overweight” rating on Tesla and a price target of $315, implying a potential upside of nearly 60%.
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Founded in Bucharest, Romania, UiPath (PATH) is a robotic process automation software company. Its solutions help organizations automate their business processes.
The stock has drawn considerable attention in recent years, partly because it was one of the top holdings of Cathie Wood’s Ark Invest.
While Ark Invest has made portfolio adjustments, UiPath continues to be a prominent holding. It currently ranks as the fifth-largest holding in Wood’s flagship fund, the Ark Innovation ETF (ARKK), and the third largest holding in the Ark Autonomous Technology Robotics ETF (ARKQ).
Over the last 12 months, UiPath shares have climbed 63%.
Rockwell Automation
With the rise in labor costs, an increasing number of companies are opting for automation. And that means a significant tailwind for Rockwell Automation (ROK), which focuses on industrial and warehouse automation.
The company operates through three segments: Intelligent Devices, Software and Control, and Lifecycle Services. It generated $9.1 billion in sales in fiscal 2023. In September, it bought Clearpath, a Canadian company founded in 2009 and “dedicated to automating the world’s dullest, dirtiest, and deadliest jobs.”
Rockwell also pays quarterly dividends and has been raising its payout every year.
The stock, however, has had a choppy ride and is down about 6% over the last 12 months.
Citigroup analyst Andrew Kaplowitz has a “buy” rating on Rockwell and a price target of $330 — 19% above where the stock sits today.
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