2 Stocks to Buy Now That Could Skyrocket in 2024

“Find out where the world is going and get there as soon as possible.” — David Gardner, Co-Founder, The Motley Fool

The best investors can spot transformative technologies before most others. It’s a lucrative skill that could help you build vast wealth in the stock market.

If you would like to get in early on powerful trends and position yourself to profit from exciting technological advances, such as artificial intelligence (AI) and electric aircraft, read on. The two companies that follow are set to disrupt massive markets while potentially delivering handsome returns to their shareholders along the way.

Symbotic

AI is coming to a warehouse near you. Symbotic (NASDAQ: SYM) is using cutting-edge AI and robotics technology to help companies slash their logistics costs by automating their supply chains.

Symbotic’s system can lessen its customers’ warehouse-space needs by up to 60%. Rather than hours, trailers can be loaded in minutes. Orders can be fulfilled with 99.99% accuracy and fewer inventory requirements. The company estimates that a $50 million purchase of one of its modules can reduce operating expenses by $10 million annually for up to 25 years.

These benefits aren’t escaping the attention of major retailers. Grocery giant Albertsons and Target have deployed Symbotic’s systems in their warehouses. Walmart, meanwhile, is integrating Symbotic’s technology across all 42 of its regional distribution centers to bolster its inventory management and fulfillment operations.

Predictably, given the speed and efficiency gains that its tech can provide, Symbotic’s sales are soaring. Its revenue leaped 98% to $1.2 billion in its fiscal year ended Sept. 30. Better still, Symbotic’s profit margins are improving as it grows its revenue base.

The company has not yet achieved profitability based on generally accepted accounting principles (GAAP). It did, however, generate positive adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) for the first…