2024-04-29 12:59:14 ET
Summary
- Automation, robotics, and AI are converging into a Gigatrend, with the race to develop generative AI being implemented in various industries.
- The Global X Robotics & Artificial Intelligence ETF has gained 22% and outperformed peers, primarily due to its stake in NVDA.
- The ETF has a portfolio upside potential of 17% based on analyst price targets, but downside risk is present in the largest weight ABB Ltd.
- Valuation has outpaced earnings, which warrants a change in rating from Buy to Hold.
Summary
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BOTZ: Patience Is A Virtue