Brett Larson
speaker
455 appearances
2 recordings
1 series
first heard Dec 2024
last heard Feb 2025
Brett Larson’s voice in public audio — every appearance, attributed to the second.
Trend
recordings per month · last 12 monthsNo recordings in the last 12 months.Older appearances are listed below; set an alert to hear about the next one.
Appearances
There's a couple that are top of mind.
The first one is obviously just the cyclicality.
Early is the same thing as wrong.
Basically every incremental investor in Cognex the last year or two is probably feeling very early right now.
With regards to that one.
Frankly, it's just a matter of if the cycle will turn or if we're sitting here a year from now and still feeling early.
Hopefully still temporarily.
The other one is China, which we briefly mentioned.
So it's eighteen percent of sales in twenty twenty four.
Two thirds of that is to Western multinationals and a good chunk of that, probably half of that or more, is Apple Foxconn.
For those customers, it seems unlikely they're gonna put hike robotics in their factories for obvious reasons.
For the remainder, call it the other
mid to high single digits percent of overall cognex sales that are domestic Chinese manufacturers.
I think on a five to ten year basis, it's probably gonna be an uphill battle to grow those customers at least.
That's a well understood risk as well that people talk about.
The last one would just be the tech transition.
Ultimately, I think the tech transition opens a great window of opportunity for Cognex and there's reasons to believe they're early and ahead in terms of applying machine learning to machine vision.
But with any tech transition, it opens the window for disruption as well.
So that's the third risk out there that's on my mind.
What's also interesting is the cyclicals, whether it be analog semis or semicaps or like metals and mining, they'll trade peak multiple on trough earnings and the like.
Showing 401–420 of 455 · page 21 of 23
← Previous
Next →