Angelica Ballesteros
2 min read
In This Article:
Aeva Technologies, Inc. (NASDAQ:AEVA) is one of the 10 Stocks Leave Wall Street Stunned.
Aeva Technologies, Inc. (NASDAQ:AEVA) rallied by 8.55 percent on Friday to close at $36.43 apiece ahead of the quarterly window dressing, sparked by growth opportunities from the booming industrial automation and robotics, and autonomous driving.
Aeva Technologies, Inc. (NASDAQ:AEVA), a company focused on manufacturing and selling light detection and ranging (lidar) systems, is set to benefit from the increasing adoption of industrial automation, with various companies now transitioning to robotics to do jobs.
A close-up of a LiDAR-on-chip sensor mounted in a consumer-grade electronic device.
At home, e-commerce giant Amazon earlier this month underscored the future of warehouse automation and robotics, saying that it will need fewer people to do some of the jobs over time.
“In our fulfillment network, we’re using AI to improve inventory placement, demand forecasting, and the efficiency of our robots—all of which have improved cost to serve and delivery speed,” Amazon CEO Andrew Jassy was quoted as saying.
Additionally, autonomous driving is now taking center stage, sparking optimism for further growth for the lidar industry. Just this month, auto giant Tesla Inc. (NASDAQ:TSLA) launched its robotaxi operations in Texas, while Uber Technologies Inc. (NYSE:UBER) was mulling over acquiring Pony AI’s US subsidiary.
While we acknowledge the potential of AEVA as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.
READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.
Disclosure: None. This article is originally published at Insider Monkey.
