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ABB - Fanuc Seeing A Wobbly Recovery Across Its Businesses
ABB Ltd
I’ve been cautious on Japanese automation vendors, given uncertain strength in the Chinese demand rebound and weakness elsewhere, but moreso because of the market’s rush to bid up the stocks in expectation of a robust and sustained recovery. Since my last article on Fanuc (FANUY), the shares are up a bit, but they’ve lagged the broader industrial space, and there are still a lot of unsettling trends in end-user demand.
I’m not worried about the eventual recovery – I believe the entire sector is bottoming, and I believe the trend towards factory automation