Mobileye is one of the top Turnaround Candidates for 2024 - Shipments of EyeQ Chips to Double Again in Q2!
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The Israeli specialist for driver assistance systems Mobileye (MBLY) was put under pressure at the beginning of January due to high customer inventories and forecast a 50% slump in sales for the current first quarter. However, the surplus of 6-7 million EyeQ chips should now be quickly reduced as planned. At the Morgan Stanley Technology, Media & Telecom Conference on March 6, the management confirmed that the EyeQ volume will improve by at least 100% in the following second quarter as planned after around 3.4 million units in the first quarter....
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