What's Going On With Autonomous Driving Stock Mobileye Thursday?
Portfolio Pulse from Anusuya Lahiri
Mobileye Global Inc (MBLY) stock rose after Intel Corp (INTC) announced it would retain its majority stake in the company. This decision, along with a U.S. Fed rate cut, positively impacted Mobileye's stock. Intel's recent multi-billion-dollar chipmaking deal with Amazon and U.S. semiconductor grants also influenced the market. Despite these developments, both Intel and Mobileye have faced significant stock declines over the past year.
September 19, 2024 | 2:34 pm
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POSITIVE IMPACT
Mobileye's stock increased by 14.4% after Intel decided not to divest its majority stake, influenced by a Fed rate cut. Despite this, Mobileye's stock is down 70% over the past year due to revenue guidance cuts and challenges in China.
Intel's decision to retain its stake in Mobileye and the Fed rate cut positively impacted Mobileye's stock. However, the company's long-term challenges, including revenue guidance cuts and weak demand in China, remain.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90
NEUTRAL IMPACT
Amazon's cloud unit is involved in a multi-billion-dollar chipmaking deal with Intel, which could enhance its cloud services. However, the direct impact on Amazon's stock is not specified.
While the deal with Intel could enhance Amazon's cloud services, the article does not specify a direct impact on Amazon's stock price.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 50
NEUTRAL IMPACT
Intel's stock has declined 43% over the past year due to its foundry unit's failure to capitalize on AI. However, recent deals with Amazon and U.S. grants may provide a positive outlook.
Intel's stock has been negatively impacted by its foundry unit's performance. However, new deals and grants could improve its future outlook, though the immediate impact is neutral.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 70