Symbotic (SYM) Soars 14.57% on Amazon's Automation, Robotics Adoption
We recently published a list of These 10 Stocks Boast Double-Digit Gains Amid Boring Market. Symbotic Inc. (NASDAQ:SYM) is one of the best-performing stocks on Thursday.
Symbotic surged by 14.57 percent on Wednesday to close at $35.70 apiece as investors gobbled up shares following Amazon CEO Andrew Jassy's letter to employees, underscoring the future of warehouse automation and robotics.
In a letter to employees, Jassy underscored the company's increasing adoption of Artificial Intelligence, saying that it will need fewer people to do some of the jobs over time.
'In our fulfillment network, we're using AI to improve inventory placement, demand forecasting, and the efficiency of our robots—all of which have improved cost to serve and delivery speed,' Jassy was quoted as saying.
Jassy's message spilled over to Symbotic Inc. (NASDAQ:SYM), which is heavily focused on warehouse automation and robotics, as investors placed bets on expectations of stronger demand for its solutions amid the broader shift towards AI.
A warehouse automation system in operation, with robotic arms managing inventory efficiently.
In the first quarter of fiscal year 2025, Symbotic Inc. (NASDAQ:SYM) narrowed its net loss attributable to shareholders by 56 percent to $3.9 million from $8.8 million in the same period last year. Revenues rose by 40 percent to $549.6 million from $393 million year-on-year.
While we acknowledge the potential of SYM as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.
READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.
Disclosure: None. This article is originally published at Insider Monkey.
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