Artificial intelligence and robotics stocks are performing better than many other investments on the stock market, according to a report on CNBC.
The website says robotics and AI stocks are “crushing” the old economy and is up by 30 per cent compared with under 10 per cent for other stocks.
In particular, the Global X Robotics and Artificial Intelligence ETF (BOTZ) and the ROBO Global Robotics and Automation Index (ROBO) have done well.
BOTZ is up 30 percent this year, which ROBO is up 25 percent.
“In our opinion, robotics, automation, AI is really the next ‘FANG’ trade if you will,” William Studebaker, president and CIO at Robo Global, told CNBC.
By “FANG” Studebaker meant tech stocks Facebook, Amazon, Netflix and Alphabet, parent company of Google.
The robotics and AI stocks are not as closely followed by the majority of investors as is the well-known tech stocks.
This means, say the experts, there are probably many bargains and good investments to be found if an investor was to look more deeply into the market.
Nasdaq is the market where many of the tech stocks are listed, and that has grown by 19 per cent this year to hit record highs this week, says CNBC.
