The speaker prefers CGNX for everyday infrastructure such as factory robots; last quarter revenue was a record $291 million, up 17% year over year, EPS jumped 80%, and with $755 million in cash and investments and no debt, CGNX expects strong double-digit revenue growth this year.
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Regarding factory robots, take a look at Cognix, whose stock market symbol is CGNX. Cognix was founded in 1981 by a lecturer at the Massachusetts Institute of Technology and two graduate students of the institute.
Their first product could read the letters and numbers printed on products and parts. Today, they create machine vision systems, cameras, and artificial intelligence software that inspect parts and guide robots on production lines in a wide range of industries such as automobiles, consumer electronics, and packaged goods.
This year, Cognix launched a vision controller powered by Nvidia's Jetson that delivers up to 157 trillion AI operations per second. This is sufficient to run several high-resolution artificial intelligence models simultaneously.
Their new platform, "OneVision," is already being used by hundreds of customers who are building AI-based vision applications. Last quarter, Cognex achieved record revenues of $291 million, a 17% year-over-year increase.
But their earnings per share jumped by 80%. They have $755 million in cash and investments, no debt, and expect strong double-digit revenue growth this year. Cognex is preparing to announce its earnings on November 4th.
For the infrastructure we actually rely on every day, such as factory robots to make our goods and communication networks to keep us connected, I prefer Cognex and Nokia.