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March 12th, 2007
iRobot: Sweeping up in military markets?
Gregg Early, the editor of The Real Nanotech Investor explains, "iRobot was quite the sensation, and when it issued its initial public offering in late 2005, it took off like a rocket. Then people started to sober up and wonder how a little company that makes cool robotic vacuums could survive as a publicly traded company."
"I mean, how many do you need?" he asks. Many other investors apparently felt the same as the stock plummeted. Then, notes Early, the company recently released depressing earnings news, and the stock is sold off further, nearing 52-week lows.
Despite this rather unimpressive outlook, the advisor has chosen to add the stock to his buy list, noting, "There are two things iRobot has going for it that most people overlook."
First, he points to the computer program underlying the product. He explains, "The program that makes these little things go is absolutely amazing. This is artificial intelligence (AI), not just some long script of 'if/then' statements. This gives the company far more than little robots to sell people with dirty floors."
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