Why Mobileye Stock Shot Higher in December
Mobileye Global (NASDAQ: MBLY) has only been back on public markets since late October, but the self-driving and computer vision tech company is already turning heads on Wall Street. Shares of Mobileye gained 23% in December, according to data provided by S&P Global Market Intelligence, on optimistic projections from the company and buy-in from the analyst community.
Mobileye was a pioneer in the assisted driving tech business, working with Tesla in the early days of the electric vehicle manufacturer's foray into self-driving cars. The company was acquired by Intel, but returned to public markets late last year.
In early December, Mobileye reported fiscal third-quarter earnings, for the period ended Oct. 1, that were noisy due to the spinoff from Intel, but its guidance for future quarters provided a lot to get excited about. Mobileye expects to generate $527 million to $545 million in revenue in the current quarter, well ahead of the $483 million analysts had expected. For all of fiscal 2022, the company expects to top $1.83 billion in sales and at least $637 million in operating income.
Source Fool.com
