NVDA - Top 3 Automotive Semiconductor Stocks To Buy

• Despite the automotive market being at a mature stage with average vehicle unit sales growth projected at 1.24% annually to 2030, we find the use of semiconductor chips in vehicles.
• Automotive MCUs are essential in various vehicle electronic systems and are forecasted to grow at a long-term CAGR of 11.18% based on the 20-year average.
• The rise of autonomous vehicles is expected to spur demand for complex and advanced ADAS SoCs with autonomous vehicle unit growth projected to grow at a 73.9% average rate.
• Finally, automakers are incorporating more LEDs in their designs and to meet rising regulatory requirements as LED content grew at a CAGR of 18.8%.

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