About this content About Stephen Gunnion Stephen Gunnion is a senior financial journalist and broadcaster at Proactive Investors. He has more than 25 years of experience in television, radio and print media, anchoring on a number of television channels including South Africa's Business Day TV, CNBC Africa and the South African Broadcasting Corporation, where he was the economics editor. He has also worked for Daily Maverick, Bloomberg, the Business Day newspaper and Investors' Chronicle. Read more About ...

Hedge fund manager Tom Hayes has taken a clear view on Mobileye , which on Thursday saw its share price plunge 25%, in turning his nose up at the prospect of investing in the Intel spinoff by stating that he refuses to go “dumpster diving.” Hayes, who founded New York investment fund Great Hill Capital in 2015, entirely disregarded the possibility of buying shares in Mobileye MBLY, -24.55%, as he described the self-driving vehicle company as the “poster child of the last hype cycle before AI.” “I’m not goin ...

The future of Mobileye Global (NASDAQ:MBLY) is looking increasingly questionable. Demand for self-driving vehicle technology isn’t expected to slow down in 2024 as the driverless race picks up steam. But the Israel-based company recently issued some less-than-ideal news. It warned investors that it expects to see customer orders for the chips it produces decrease by fairly significant margins during Q1 2024. MBLY stock has been falling since the news broke and is currently down more than 25% for the day as ...

Shares of autonomous driving solutions provider Mobileye (MBLY -25.62%) plunged 25.6% in Thursday trading, as of 3:20 p.m. ET.The company, which is 88% owned by Intel (INTC -0.13%) but also has publicly traded shares on the Nasdaq, issued a press release this morning, saying that 2024 could be a very tough year.The "bullwhip" comes for auto chip manufacturersThe semiconductor sector is notoriously cyclical and follows a pattern that seems to repeat itself no matter how experienced these chip companies becom ...

Mobileye, a maker of chips for driver-assistance features, is warning of a coming drop in sales and earnings. Photo: patrick t. fallon/Agence France-Presse/Getty ImagesSome collisions are hard to avoid—even when you see them coming. The severe shortages in automotive chips caused by the onset of the Covid pandemic in 2020 have continued to reverberate. Those shortages helped elevate chip-industry revenue over the past three years, as automakers and their top suppliers sought to build up inventory to avoid b ...

Key TakeawaysMobileye Global Inc.'s full-year revenue guidance came in well short of analysts' estimates. The company attributed the gap to customers holding on to a backlog of products.The maker of autonomous vehicle technology said that supply-chain issues and lower original equipment manufacturer (OEM) production led customers to stock up.Shares of Mobileye dropped Thursday to their lowest level in a year, losing a quarter of their value by midday.Shares of Mobileye Global Inc. (MBLY) lost a quarter of t ...

Mobileye signage during the company's IPO at the Nasdaq MarketSite in New York, US, on Wednesday, Oct. 26, 2022. Mobileye Global Inc., the self-driving technology company owned by Intel Corp., priced one of the biggest US initial public offerings of the year above its marketed range to raise $861 million.Mobileye, the self-driving technology company majority owned by Intel, warned on Thursday that it expected that customer orders would drop off dramatically for the first quarter of 2024.Shares plunged as mu ...

About this content About Sean Mason Sean Mason is a Senior Journalist at Proactive, having researched and written about Canadian and US equities for 20 years. Sean graduated from the University of Toronto with a BA in history and economics and has also passed the Canadian Securities Course. He previously worked at Investors Digest of Canada, Stockhouse, and SmallCapPower.com. Read more About the publisher Proactive financial news and online broadcast teams provide fast, accessible, informative and action ...

Shares of Mobileye Global Inc. were tanking in Thursday’s premarket action after the company, which makes self-driving technology, issued a revenue warning as its customers deal with excess inventory. Mobileye MBLY, -3.92% expects first-quarter revenue to fall about 50% from the $458 million that it reported in the year-earlier period. Analysts tracked by FactSet had expected revenue to rise to $557 million for the period. The company disclosed in a press release that it has “become aware of excess inve ...

JERUSALEM--(BUSINESS WIRE)--Mobileye Global Inc. (Nasdaq: MBLY) (“Mobileye”) today releases preliminary FY2023 results and a preliminary financial outlook for FY2024. FY2023 and Q4 2023 Preliminary Financial Results The table below sets forth preliminary estimated financial results for our fourth quarter and full year of 2023. We have not yet finalized our financial results for the fourth quarter and our actual results could differ from those set forth below as we complete our financial close and our audi ...