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Mobileye 's (NASDAQ: MBLY) stock plunged 25% on Jan. 4, after the automotive chipmaker posted its preliminary full-year results for 2023 and outlook for 2024.
For the full year, it expects its revenue to rise 11% as its adjusted operating income grows 0%-1%. That matched the chipmaker's most recent outlook, which called for 10%-12% revenue growth and a 7% decline to 1% growth in adjusted operating income, but it had already reduced its top-line guidance throughout 2023.