Mobileye Says "On Our Q4 Call, We Said That We That We Would See An Increase Of At Least 100% In Q2 Versus Q1 And At That Point, The Vast Majority Of The Excess Inventory Would Be Cleared Out. Based On Our Current View, Which Includes A Significant Number Of Customer Commitments We've Received For Q2, We Believe We Are On Track To Meet That Outlook And Those Statements."
Portfolio Pulse from Benzinga Newsdesk
Mobileye announced at the Morgan Stanley Technology, Media & Telecom Conference that they are on track to meet their Q2 outlook, which includes at least a 100% increase in Q2 versus Q1, with the vast majority of excess inventory cleared out. This outlook is supported by a significant number of customer commitments received for Q2.
March 06, 2024 | 4:22 pm
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POSITIVE IMPACT
Mobileye is poised to achieve at least a 100% increase in Q2 compared to Q1, with most excess inventory cleared, supported by significant customer commitments.
The positive outlook provided by Mobileye, indicating a significant increase in performance and the clearing of excess inventory, is likely to instill confidence in investors and positively impact the stock price in the short term. The mention of significant customer commitments further supports the likelihood of achieving these targets, indicating strong demand for Mobileye's products.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100