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Mobileye Global Inc. introduced an operating system called DXP that's designed to help automakers develop customized self-driving systems and save them the time of building costly programs on their own. CEO Amnon Shashua speaks to Ed Ludlow at CES.
Advanced driver assistance systems (ADAS) and autonomous driving technology provider Mobileye Global Inc. NASDAQ: MBLY shocked investors when it unexpectedly cut its fiscal 2024 guidance on Jan. 4, 2024. Shares collapsed 24% in reaction.
Mobileye (MBLY) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.
Mobileye's preliminary full-year report met its own expectations. But its outlook for 2024 came in well below analysts' estimates.
Mobileye Global Inc maintained its ‘Buy' recommendation but with a lower price target from analysts at UBS after the self-driving technology developer guided investors for a sharp fall in first-quarter revenue as its customers cope with excess inventory. Due to the lower outlook, the analysts have cut their price target to $35 from $48, saying while the destocking will weigh on the company's 2024 performance the mid-term opportunity from its Supervision driver-assist system remains.
Hedge fund manager Tom Hayes has taken a clear view on Mobileye , which on Thursday saw its share price plunge 25%, in turning his nose up at the prospect of investing in the Intel spinoff by stating that he refuses to go “dumpster diving.”
The future of Mobileye Global (NASDAQ: MBLY ) is looking increasingly questionable. Demand for self-driving vehicle technology isn't expected to slow down in 2024 as the driverless race picks up steam.
Mobileye preannounced its fourth quarter and issued preliminary 2024 guidance that disappointed investors. A severe inventory correction has come to auto chip suppliers.
Mobileye is expecting a 50% drop in revenue for the first quarter of this year because of excessive customer inventory issues. CNBC's Kristina Partsinevelos joins 'Halftime Report' to break it down.
Automakers' post-Covid inventory buildup is likely to hang over semiconductor suppliers this year.