The Trust Layer for Market Analysts

The Motley Fool identified CGNX, Cognex Corporation, ticker CGNX, as a stock with huge potential due to a deal with Apple. The stock pays a dividend and was founded in 1981 in Natick, Massachusetts. It is a leader in machine vision systems (the eyes for robots and machines, helping them inspect, guide, and read barcodes). The stock is playing a critical role in Apple’s supply chain, as a confirmed supplier to Apple providing machine vision systems for iPhone manufacturing, representing 20% of revenue historically. Apple is developing a tabletop robot J595, which could drive massive revenue growth for Cognex. It has partnerships with Amazon for warehouse automation. The current stock analysis chart indicates a moderate buy analyst rating. Price targets are around 50-52, implying 16% upside. The 50-day moving average is used to spot entry points. Resistance is noted around the sideways movement between August to the beginning of this year and the bag holders.