ABB - 3 Automation Stocks to Buy Hand Over Fist in April
2023-04-06 06:03:00 ET
All the evidence points to automation and the industrial software that powers it being a hot market over the coming decade. However, it's not always easy to find reasonably priced stocks in the sector. That said, I think European automation and robotics giant ABB (NYSE: ABB) , industrial software company PTC (NASDAQ: PTC) , and leading machine vision company Cognex (NASDAQ: CGNX) are a good value and have excellent long-term growth prospects. Here's why.
The European industrial giant has an exciting collection of businesses. For example, its electrification business makes it a beneficiary of the electrification-of-everything trend. It has one of the world's leading robotics businesses and ABB's automation exposure stretches across machine automation, motion control systems, and process automation (processing of raw materials).
These are excellent markets in a world still recovering from the shock to the supply chain created by sustained lockdowns. Simply put, automation provides a solution for companies looking to reduce labor costs. It is a powerful tool for companies looking to re-shore their operations and reduce supply chain complexity.
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3 Automation Stocks to Buy Hand Over Fist in April