TRMB - Buy These 2 Growth Stocks on the Dip
2024-01-13 07:40:00 ET
Shares in positioning and workflow technology company Trimble (NASDAQ: TRMB) and machine vision company Cognex (NASDAQ: CGNX) currently trade down 47% and 62%, respectively, from their all-time highs and both stocks declined over the last year. That created a potential good news-bad news scenario.
Those price drops make both of these solid stocks highly attractive for long-term investors (the good news). But no one with a low tolerance level for near-term risk should consider buying them right now (the bad). Let me explain.
In the case of Trimble, CEO Rob Painter disappointed the market with Trimble's third-quarter earnings presentation in early November by lowering the company's full-year revenue outlook and the midpoint of its earnings range. He told investors of "increasing signs of weakness and stress across many end markets and geographies, exacerbated by interest rates, war and geopolitical tensions."
For further details see:
Buy These 2 Growth Stocks on the Dip