Audi’s New Semi-Autonomous Car Has Intel Inside. Here’s Why That Matters.
Last week Intel (NASDAQ: INTC) published a short post on its website saying that the company's processors will be part of the semi-autonomous driving systems in the new 2018 Audi (NASDAQOTH: AUDVF) A8. The announcement came after the Silicon Valley Business Journal published a report about Intel's chips powering the A8. This is important news because it means that Intel is yet another step closer to pivoting away from slowing revenue segments like PC chip sales and into growing ones like the driverless car market.
Intel still has plenty to prove as it makes this transition, but supplying chips for Audi's semi-autonomous vehicle -- along with the company's purchase of semi-autonomous car tech company Mobileye (NYSE: MBLY) earlier this year -- make it clear that Intel is taking the driverless car market very seriously. That's good news for both the company and its investors because self-driving cars are poised to become a $77 billion market by 2035.
Audi's new A8 luxury sedan. Image source: Audi.
Source: Fool.com
Intel Corp. Stock
Currently there is a rather positive sentiment for Intel Corp. with 25 Buy predictions and 11 Sell predictions.
As a result the target price of 42 € shows a positive potential of 46.98% compared to the current price of 28.58 € for Intel Corp..
