10 Best Robotics Stocks to Buy According to Billionaires

Page 9 of 9

1. Tesla, Inc. (NASDAQ:TSLA)

No. of Billionaire Investors: 21

No. of Hedge Fund Holders: 126

Tesla, Inc. (NASDAQ:TSLA) is one of the world’s leading manufacturers of electric vehicles (EVs). However, investors are more focused on its products, such as its full self-driving software (FSD), Cybercab robotaxi, and Optimus robot, which could each be trillion-dollar platforms in the future.

Tesla, Inc. (NASDAQ:TSLA) has suffered a drop of 1% year-over-year in deliveries in FY2024. In 2024, Cathie Wood’s Ark Invest Management projected TSLA shares to surge to $2,600 by 2029 based on products like FSD and the Cybercab. Ark’s financial models suggest that Tesla’s EV sales will only represent 26% of the company’s revenue by 2029, with autonomous ride-hailing making up the majority instead. Tesla’s Cybercab is a fully autonomous robotaxi that will run entirely on its FSD software.

On March 21, Wedbush analyst Daniel Ives reiterated an Outperform rating on TSLA shares, keeping a price target of $550. Ives is bullish on TSLA over its upcoming Cybercab, full self-driving expansion, and a lower-cost vehicle launch later this year.

“Musk did a very good job in our opinion discussing the Tesla long-term strategic vision, autonomous, robotics, and showing leadership at a time it was very needed for the Tesla story,” Wedbush analysts wrote.

While we acknowledge the potential of TSLA to grow, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than TSLA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks To Invest In According to Billionaires.

Disclosure. None. Insider Monkey focuses on uncovering the best investment ideas of hedge funds and investors. Please subscribe to our daily free newsletter to get the latest investment ideas from hedge funds’ investor letters by entering your email address below.

Page 9 of 9