Mobileye Misses 2024 Sales Estimates Because of Excess Customer Inventory
Mobileye (MBLY) Investopedia·2024-01-04 17:50Key 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 ...