No, a company's ability to be more efficient (as well as general increasing efficiencies) is priced into its value. That's where P/E ratios come into play.
Currently the entire stock market doesn't reflect value, it reflects growth. Shiller P/E (CAPE) is normally between 10 and 15 depending on that efficiency that you're talking about. It's at 35 right now. (https://www.multpl.com/shiller-pe) That's higher than Black Tuesday and any other time in this market's history outside of the 2000 crash.
Currently the entire stock market doesn't reflect value, it reflects growth. Shiller P/E (CAPE) is normally between 10 and 15 depending on that efficiency that you're talking about. It's at 35 right now. (https://www.multpl.com/shiller-pe) That's higher than Black Tuesday and any other time in this market's history outside of the 2000 crash.