MBLY - Mobileye: The Bottom Is In And A Turnaround Is Imminent
2024-05-05 04:03:54 ET
Summary
- 1Q24 results came in in-line with expectations, while guidance was also reiterated, suggesting we are progressing well with the inventory destocking.
- Mobileye's inventory consumption is on track, with 70-75% of excess inventory consumed in 1Q24 and I expect the inventory destocking issue to be behind us by the end of 2Q24.
- Mobileye's pipeline of discussions with automotive makers is growing, with interest spreading to mainstream brands.
- Mobileye is optimistic about converting pipeline opportunities into design wins in the second half of 2024.
- SuperVision ramp into the second half of 2024 looks promising with multiple tailwinds to drive demand.
Mobileye ( MBLY ) reported 1Q24 results, which was largely in-line and guidance was also reiterated....
Mobileye: The Bottom Is In And A Turnaround Is Imminent