![]() ![]() Here at InvestorPlace, contributor Louis Navellier discussed buying on the dip on Dec. Richard suggests that it would take Intel the better part of five years and as much as $1 billion to develop its own internal lidar system suitable for autonomous driving taxis.Īs a result of the stock’s price decline, Richard upgraded LAZR stock to outperform from market perform with a target price of $41. 4) If Mobileye had an internal solution ready to go they would not have announced a deal with LAZR,” Tipranks reported on Dec. 3) Intel is developing lidar, and we believe INTC’s SiP group has other priorities. 2) LAZR will be the entrenched supplier to Mobileye by that time. “1) We do not believe an internal lidar system could be ready for 2025 production. ![]() Northland analyst Gus Richard recently suggested that the price decline after the Mobileye news was nothing to fear but fear itself. Not everyone thinks Luminar is overvalued at $40. Should you buy before it heads back to $40 or waits for it to return to the low $20s? However, it appears that the stock has bottomed, and aggressive investors have bought on the dip.Īs I write this, it’s trading at over $37. 15 when Intel (NASDAQ: INTC) subsidiary Mobileye suggested that it might develop its own lidar units rather than partnering with Luminar.ĭecember has been a crazy first month of trading for the automotive company. That was due to profit-taking and the news that competitor Innoviz was merging with Collective Growth (NASDAQ: CGRO), a special purpose acquisition company headed by former Canopy Growth (NASDAQ: CGC) CEO Bruce Linton. The first hit to its share price came on Dec.
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