Why Mobileye Crashed and Burned Today
Mobileye (MBLY) The Motley Fool·2024-01-04 20:32Shares 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 ...