ZBRA - Nasdaq Bear Market: 2 Excellent Stocks to Buy at a Discount
2023-04-17 05:52:00 ET
The current negative sentiment around the technology sector isn't difficult to understand. The Nasdaq-100 index is down more than 20% since the start of 2022, and with the economy slowing, technology spending is likely to come under pressure. However, it often makes sense to pick up stocks when other investors are fearful, and stocks like machine vision company Cognex (NASDAQ: CGNX) and asset intelligence company Zebra Technologies (NASDAQ: ZBRA) look like good values now.
Machine vision company Cognex's stock has declined more than 31% over the past year. Its decline primarily comes down to a combination of specific weaknesses in its three largest markets: logistics (e-commerce warehouse automation), consumer electronics, and automotive.
As CEO Robert Willett put it during the first-quarter earnings call with analysts, "Lower activity with our largest logistics customers continues, and we're also seeing a broader slowdown across many of our end markets as customers are wary of committing to significant investment."
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Nasdaq Bear Market: 2 Excellent Stocks to Buy at a Discount