The Bot Brief

                          "There is no force on earth more powerful than an idea whose time has come."     Victor Hugo

Bots in the News:

A weaker than expected jobs report fostered some speculation that the Fed might have a greater opportunity to cut rates twice during 2024. The markets responded with significant enthusiasm on Friday, with a dramatic impact on the Bot Index, who rose 3.14% for the week. The S & P 500, however, gained only 54 basis points, having experienced weakness in the earlier part of the trading week.

The best performance within the Bot Index was turned in by NIO Inc., the Chinese EV maker. Shareholders responded to the announcement that deliveries rose to 15,620 EVs in April. That was an increase of 135% compared to last year. Furthermore, the company projected it has set an annual sales target of 180,000 units to 200,000 units for 2024. The stock jumped 24.05%.

The second-best performer was a bounce by the perennially depressed shares of iRobot Corp. Since the EU prohibited the proposed absorption of the company into Amazon, on anticompetitive trade grounds, the stock has tumbled. However, this week James Comer, chair of the House Committee on Oversight and Accountability, expressed sufficient concerns on the role of the US Federal Trade Commission in the failed $1.4bn merger between Amazon and iRobot.

Apple stock gained 8.32% following its announcement of its quarterly earnings in which the company generated $91billion in revenue and statutory earnings per share (EPS) of US$1.53 both of which beat expectations. The stock was also impacted by the announced buyback of $110 billion of shares, making it the largest buyback in history.

Oceaneering International fell 8.07% to lead the very few stocks in the index that did not impress shareholders. The company’s quarterly earnings fell short of both revenue and income expectations.

WEBINAR: MAY 6

The Age of Cognitive Robots: How Do We Get There?

We knew it was coming, the next generation – smart robots. What is the difference between artificial cognition and artificial intelligence? Is it just a natural progression of our collaboration with the machines? We have already jumped into the world of humanoid bi-pedals and our robots are recognizing our patterns of behavior, learning, and imitating our behaviors. What does it mean and where are we headed?

Register Free

Mr. Roboto:

In contrast to the previous Mr. Atlas the Robot and the Elon Musk version of a ‘household’ robot, Boston Dynamics introduced an Atlas 2.0 that signifies a new era in robotics that replicate humans in their day-to-day environments. Whereas the original BD’s Atlas utilized hydraulics in the movement of its limbs, the New Atlas II is totally electric with greater motion, strength, mobility and with less weight. Looking a bit like this week’s Star Wars Day (May the 4^th be with you!) CP3O, the Atlas II is a marvel of agility and ability to function much like humanoids. Now owned by Hyundai (not a member of the Bot Index’s composite) the company has the financial backing, distribution and, with new capabilities, the opportunity of becoming the ‘household’ and light industrial substitution of human capabilities.

Member: American Economic Association, Society of Professional Journalists, United States Press Association. Institute of Chartered Financial Analysts, Robotic Industries Association (now A3 Automation), Member IEEE.

The Bot Brief is a weekly newsletter designed for economists, investment specialists, journalists, and academicians. It receives no remuneration from any companies that may from time to time be featured in the brief and its commentaries, analysis, opinions, and research represent the subjective view of Balcones Investment Research, LLC. Due to the complex and rapidly changing nature of the subject matter, the company makes no assurances as to the absolute accuracy of the material presented.