Top Performing Humanoid Robot Stocks Since February, According to Morgan Stanley

Please note that this article does not constitute investment advice. The author does not hold positions in any of the stocks discussed herein.

Recent analysis from Morgan Stanley highlights that its curated list of humanoid robot stocks has notably outperformed the overall market. This assertion comes after the investment bank began promoting humanoid robots last year, aligning with industry leaders like Elon Musk of Tesla, who asserted that these machines are poised to catalyze a transformative industrial revolution, potentially generating trillions in economic value. A report published today indicates a remarkable 11% increase in their humanoid robot stock index since its inception, surpassing major market benchmarks.

Gaming, Semiconductor, and Rare Earth Companies Drive Returns in Morgan Stanley’s Humanoid Stock Index

Initially, Morgan Stanley disclosed a preliminary list comprising 66 humanoid robot stocks, categorizing them into three segments: humanoid enablers, humanoid beneficiaries, and direct beneficiaries. The enablers consist of firms involved in the manufacturing of humanoid robots and supplying raw materials, while beneficiaries like Amazon are positioned to leverage these technologies for enhanced operational efficiency.

Following this, the investment bank expanded its focus by launching the “Humanoid 100″list in February. Its latest findings reveal that these stocks recorded a return of 11.1% since the list was created, outperforming the S&P 500, which achieved only 3.5% during the same timeframe. Notably, the S&P 500 experienced a significant 12% downturn in April, coinciding with President Trump’s announcement of “Liberation Day”tariffs. However, it has since rebounded, gaining 27% from its April low.

Interestingly, certain stocks benefiting from broader market trends, not directly linked to humanoid robotics, have also seen gains. According to Morgan Stanley, sectors such as semiconductors, rare earth materials, and gaming have contributed significantly to the impressive performance of the humanoid stock listings.

Tesla's Optimus Robot — Tesla’s Optimus robot.

Particularly noteworthy in 2025 is the performance of American rare earth companies, which have thrived amid escalating trade disputes with China. The latter has strategically utilized its dominance in the rare earth supply chain during negotiations. Morgan Stanley points out that MP Materials stands out as the top performer on its list, boasting an impressive increase of 145% since the list’s release.

Additionally, NVIDIA, a leading AI firm with connections to humanoid robotics, has witnessed a 32% stock surge since February 6th. This rise is attributed to strong investor sentiment regarding sustained AI investments well into the decade and limited impact from restrictions on its AI GPU sales to China. Another semiconductor company, Taiwan’s TSMC, is also set to gain from the humanoid trend, with its stocks appreciating by 13% since the inception of the list.

While MP Materials leads the rare earth sector, it’s important to note that not all companies have enjoyed favorable conditions. For instance, California-based Harmonic, specializing in video equipment, has struggled, seeing its shares fall by 30% year-to-date, largely due to disappointing earnings guidance issued in February.

In the gaming sector, Unity Software stands out with robust returns, having increased 34% year-to-date. Analysts have expressed optimism regarding Unity, with Jefferies recently upping its price target for Unity shares from $29 to $35, supported by the company’s strong performance in video game engines and advertising initiatives.

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