As earnings seasons winds down, major tech names like, Microsoft, and Alphabet have proven remarkably resilient in a tough macroeconomic environment. But not every tech company is unscathed by the tough environment.
A couple of stocks that did exceptionally well and beat the markets by a wide margin include 1Life Healthcare (NASDAQ: ONEM) and Rivian Automotive (NASDAQ: RIVN). Up until July, it wasn't a good year for 1Life Healthcare, which also goes by the name of One Medical. A lack of profitability has also made it a riskier buy than other growth stocks.
With a market cap of $8.3 billion, Cognex Corporation (NASDAQ: CGNX) is not a small-cap company. As the leader in machine vision, Cognex's strategic aim is to grow into a served market (estimated as being worth $4.2 billion in 2018) that management sees as growing at a 12% annual rate. The good news from 2022 is Cognex is achieving many of its strategic aims; the bad news is almost everything seems to be working against the company right now.