Google's (GOOG) Eric Schmidt Says 'Robots Will Become Omnipresent'

NEW YORK (TheStreet) -- Google (GOOG) chairman Eric Schmidt expects robots to "become omnipresent in our lives in a good way."

In a recent conference talk Schmidt commented on the future of robotics, saying that robots will eventually "replace a lot of the repetitive behavior in our lives," according to Seeking Alpha. The chairman didn't discuss any specifics, however.

Google as a company has shown great interest in robotics in recent months. The company recently acquired a number of startups focused on robotics, with Boston Dynamics being one notable acquisition. Former head of Android Andy Rubin is also working with robotics with the company. There are also reports of Google working with Foxconn to create robots to further automate manufacturing.

Schmidt also commented on artificial intelligence at the conference, calling it "the biggest thing" going forward. "Technology is evolving from asking a question to making a relevant recommendation," he said. Google uses A.I. to suggest relevant information in its Google Now service, which Schmidt earlier said could be used for enterprise analytics in addition to personal use on smartphones and tablets.

Shares of Google were gaining 0.3% to $1,222.41.

Must read: 6 Ways Google (GOOG) Will Shape Our Future

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TheStreet Ratings team rates GOOGLE INC as a Buy with a ratings score of A. TheStreet Ratings Team has this to say about their recommendation:

"We rate GOOGLE INC (GOOG) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, solid stock price performance, growth in earnings per share and compelling growth in net income. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook."

Highlights from the analysis by TheStreet Ratings Team goes as follows:

  • GOOG's revenue growth has slightly outpaced the industry average of 16.5%. Since the same quarter one year prior, revenues rose by 16.9%. Growth in the company's revenue appears to have helped boost the earnings per share.
  • Although GOOG's debt-to-equity ratio of 0.06 is very low, it is currently higher than that of the industry average. Along with this, the company maintains a quick ratio of 4.28, which clearly demonstrates the ability to cover short-term cash needs.
  • Investors have apparently begun to recognize positive factors similar to those we have mentioned in this report, including earnings growth. This has helped drive up the company's shares by a sharp 52.44% over the past year, a rise that has exceeded that of the S&P 500 Index. Regarding the stock's future course, although almost any stock can fall in a broad market decline, GOOG should continue to move higher despite the fact that it has already enjoyed a very nice gain in the past year.
  • GOOGLE INC has improved earnings per share by 14.2% in the most recent quarter compared to the same quarter a year ago. The company has demonstrated a pattern of positive earnings per share growth over the past two years. We feel that this trend should continue. During the past fiscal year, GOOGLE INC increased its bottom line by earning $36.04 versus $32.47 in the prior year. This year, the market expects an improvement in earnings ($51.97 versus $36.04).
  • The net income growth from the same quarter one year ago has exceeded that of the S&P 500 and the Internet Software & Services industry average. The net income increased by 17.0% when compared to the same quarter one year prior, going from $2,886.00 million to $3,376.00 million.
  • You can view the full analysis from the report here: GOOG Ratings Report

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

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