Could This 1 Top Auto Technology Stock Be a Millionaire-Maker Investment?
There's no shortage of excitement for automotive technologist Indie Semiconductor (NASDAQ: INDI). As the digitalization of cars rapidly increases -- thanks to the continual rise of electric vehicles (EVs), in-cabin infotainment, and work surrounding self-driving cars and advanced driver assist systems (ADAS) -- Indie's revenue growth has been soaring. Revenue more than doubled from the year prior in the third quarter of 2023, up 101% to $60.5 million.
Nevertheless, the stock price remains down nearly 30% from Indie's 2021 IPO. There's more going on under the hood that has the market questioning Indie's all-out expansion. But if Indie can solve some issues with its business model, perhaps shares can rally higher.
Is this a millionaire-making investment worth betting on right now?
Source Fool.com
