December 9, 2022

Market and Financial News

Market and Financial News Aggregator

Looking to Ride the Self-Driving Boom? Analysts Suggest 2 Stocks to Buy

2 min read

The automotive industry is at the beginning of a major shake-up, akin to the first flowering and spread of combustion-engine cars in the first place. Important new technologies are bursting onto the scene, including electric drive systems – and autonomously controlled vehicles. In China, car makers are already building autonomous cars with full-stack sensor systems, and they’re getting them onto the roads. We can look forward to a similar evolution in the US auto industry, perhaps starting as early as next year.

The beginnings of the change are already here. In Houston, Texas, trials are already underway by Domino’s Pizza, Kroger, and FedEx, using autonomous vehicles to deliver everything from prepared food to groceries to packages, while in California, 7-Eleven is running a similar test in Silicon Valley. If successful, these small-scale trials bring with them the promise of expansion, and a sea-change to logistics networks. Some estimates project the eventual potential impact of autonomous vehicles on the global economy at $7 trillion annually.

None of this would be possible, however, without a major change in the sensor systems that make self-driving cars possible. These systems, called LiDAR, as recently as 10 years ago could cost more than the entire rest of the car – but in recent years that cost has come down to less $1,000 per system, and that cost decrease has been accompanied by improvements in quality. The advent of affordable, higher-quality sensor systems, the ‘eyes’ of autonomous vehicles, marks the solution of a major challenge for the industry.

Against this backdrop, we’ve used the TipRanks platform to pull up the details on two stocks that are intimately connected with the autonomous car revolution. The pair have recently been given the thumbs up by certain Street analysts who project big gains ahead for both. So, let’s see how they are poised to benefit from this new paradigm.

Mobileye Global (MBLY)

First up is Mobileye, a company that…



2022-11-22 06:02:16

All news and articles are copyrighted to the respective authors and/or News Broadcasters. VIXC.Com is an independent Online News Aggregator


Read more from original source here…

Leave a Reply

Copyright © All rights reserved. | Newsphere by AF themes.