SQM - Lithium Stocks: Albemarle vs. SQM -- Whose Lithium Business Did Best in Q1?
2023-05-22 07:00:00 ET
Sociedad Quimica y Minera de Chile (NYSE: SQM) , or SQM, reported its first-quarter 2023 results last week; Albemarle (NYSE: ALB) did the same earlier this month . So, investors can now compare the two major lithium producers' results.
Keep in mind these caveats: Long-term investors should not place too much weight on a single quarter's performance. And neither company is a pure play on lithium, so their overall results will also be affected by the performances of their smaller, non-lithium businesses.
Lithium stocks are garnering much investor attention mainly because they're a way to invest in the growth of the electric vehicle (EV) market. Lithium is used to make the lithium-ion batteries that power EVs, and these batteries are also used to produce energy storage products.
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Lithium Stocks: Albemarle vs. SQM -- Whose Lithium Business Did Best in Q1?