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As the world marches towards an automated future, the best robotics stocks have emerged as a force to be reckoned with. These stocks have effectively captured the attention of forward-thinking investors seeking long-term growth opportunities.
AFC Energy said Swedish energy and engineering group ABB is to take a stake in the business after a successful test of its hydrogen fuel cell technology. A cumulative 100kW liquid-cooled fuel cell (the S+ series) exceeded contracted targets in a test run by ABB's E-mobility arm and verified by an independent German engineering group, IAV.
ABB is set to launch a new share buyback program of up to $1 billion, following the completion of the previous one, under which the company bought back 67.5 million shares for approximately $2 billion.
The U.S.-listed shares of ABB Ltd. ABB, +1.28% ABBN, -0.49% rose 1.4% in afternoon trading Thursday, after the Switzerland-based electrification and automation company announced a new $1 billion stock buyback program, to be launched in April.
The expansion of the existing robotics facility in Auburn Hills is expected to help ABB meet increased demand for automation from several U.S. businesses, while creating several jobs in Michigan.
A healthy demand environment, easing component shortages and portfolio-reshaping actions augur well for ABB. Handsome rewards to shareholders add to the stock's appeal.
ABB is expanding its main US robot factory as its customers there in the automotive, packaging and machinery industries confront a tight labour market as they bring production back home.
The advent of artificial intelligence ( AI ) could prove revolutionary for multiple industries, including manufacturing. In fact, AI is already becoming increasingly prevalent in manufacturing as more companies embrace technology and leverage it to improve efficiency, cut costs, and remain competitive.
Here is how ABB (ABB) and Belden (BDC) have performed compared to their sector so far this year.
Continued strength in the Electrification segment owing to stable demand across most customer verticals bodes well for ABB. Its portfolio restructuring actions should foster growth.