The Zacks Analyst Blog Highlights: Google, Amazon, Nvidia, Apple and Baidu
For immediate publication
Chicago, IL - October 12, 2020 - Zacks.com announces the list of stocks on the Analyst Blog. Every day, analysts at Zacks Equity Research discuss the latest news and events that affect stocks and the financial markets. Stocks recently featured on the blog include: Alphabet Inc. togetL, Amazon.com, Inc. AMZN, NVIDIA Corporation NVDA, Apple Inc. AAPL, and Baidu, Inc. BIDU.
Here are the highlights from Friday's analyst blog:
Driving yourself on the newest step from Alphabet - what are the competition doing?
Autonomous driving technology is becoming more and more important in the data-driven, fast-paced world after the advanced functions powered by artificial intelligence (AI) that are added to driverless vehicles and increase reliability for public transport.
In addition, continuous developments in the advanced driver assistance system (ADAS) and prediction algorithms contribute to the safety features of the vehicles. In particular, the rapid development of self-driving technology will revolutionize the growth course of both the transport and the automotive industry.
Given the optimistic scenario, Alphabet - known for its robust AI and machine learning ("ML") technologies and the most talked about autonomous vehicle ("AV") company due to its powerful self-driving unit - is making a concerted effort to improve its To further strengthen our presence in this promising market.
The recent restart of its robo-taxi hailship service with no human attendants in Phoenix, AZ is evidence of this. This move puts Alphabet well positioned to capitalize on the growth prospects in the AV space.
A report by Grand View Research shows that the global self-driving cars and trucks market is projected to have a CAGR of 63.1% between 2021 and 2030.
Additionally, a market data forecast report shows that the self-driving car market is projected to reach $ 56.21 billion in 2020 and to reach $ 220.44 billion by 2025, which is an annual growth rate of 36.5% between 2020 and 2025 corresponds.
However, not only the search giant, but also the e-commerce giant Amazon is attracting the respective market. In particular, the latter agreed to take over Zoox, a developer of self-driving technologies.
In addition, chipmakers like NVIDIA are making strides to capitalize on the lucrative opportunities in AV.
To innovate simulation software, automotive sensors, cameras, and LiDars to make driverless transportation easier, NVIDIA is making good progress with its partnerships with automotive companies. Additionally, the launch of the software-defined platform for autonomous vehicles - Drive AGX Orin - remains noteworthy.
On the other hand, Intel is gaining a lot on its autonomous drive unit - Mobileye.
Aside from these companies, Apple and Baidu are gathering steam to bolster their self-driving initiatives.
Therefore, competition in the AV market intensifies with the increasing efforts of the above companies.
Aggressive attitude of the alphabet
Even so, Alphabet's aggressive efforts to grow Waymo initiatives are expected to help keep Alphabet one step ahead.
Waymo's robo-taxi hail service, currently available to Waymo One members, is being made available through its smartphone app to anyone looking to take a ride within 50 square miles of Phoenix. In addition, the service will soon restart for trips within the 100 square mile area of Phoenix.
Aside from the latest move, Waymo plans to start road testing its driverless fleet in a new hub in Dallas, TX.
Additionally, the company's acquisition of Latent Logic, an AI company that specializes in one form of ML, namely imitation learning, remains notable. Waymo's simulation technology is expected to become more advanced and realistic. This in turn strengthens Waymo's behavioral prediction ability.
In addition, the partnership with Volvo to develop self-driving electric vehicles for hail services remains remarkable.
Waymo's recent $ 2.25 billion fundraising should help Alphabet, currently ranked Zacks # 2 (Buy), commercialize self-driving vehicles and, consequently, expand its self-driving presence into new areas.
The full list of today's Zacks # 1 Rank (Strong Buy) stocks can be found here.
Intel & Baidu are working to fill the gap
Intel, which currently has a Zacks Rank 3 (Hold), wins strongly from the low power consumption of Mobileye chips and the ability to create maps for self-driving systems via its Road Experience Management platform.
Additionally, following its multi-million dollar partnership with the Al Habtoor Group, the company is collecting steam to hit the streets of Dubai until 2022. According to the terms of the contract, the Mobileye system will be used in a fleet of 1,000 automotive robot axes.
In addition, Mobileye's agreements in China and South Korea with SAIC and Daegu Metropolitan City, respectively, are a good sign that Intel is increasingly focusing on strengthening its global presence in the AV space.
In the meantime, Baidu is benefiting from the expansion of the Apollo Go Robotaxi service, which covers around 700 kilometers across China and has around 100 pick-up and drop-off stations in several residential and business areas.
In particular, this 3rd place from Zacks company recently launched the service in Beijing. In addition, the company recently made the service available in Changsha and Cangzhou cities.
Additionally, Baidu's partnership with Volvo to roll out Tier 4 vehicles in 2021 remains very important.
Apple & Qualcomm in Fray
Apple's acquisition of the self-driving shuttle company Drive.ai is in line with strong efforts to strengthen neural network expertise, which plays an important role in the development of software for driverless vehicles.
In addition, Drive.ai's solid database of road conditions, signals and traffic helps Zacks Rank # 3 innovate driverless vehicle software.
On the flip side, Qualcomm, another Zacks Rank # 3 company, is riding on its automotive platform - Snapdragon Ride. In particular, the platform enables automakers to convert their vehicles into self-driving cars using AI.
In addition, the increased partnerships with automotive companies such as General Motors, Audi, Ford and Ducati are still noteworthy.
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Past performance is no guarantee of future results. The potential for loss is associated with every investment. This material is provided for informational purposes only and nothing in this document constitutes investment, legal, accounting, tax advice, or a recommendation to buy, sell or hold any security. No recommendation or advice is made as to whether or not to invest in any suitable for certain investors. There is no assurance that any investment in any security, company, sector, or market that has been identified and described has been or will be profitable. All information is current as of the date of this publication and is subject to change without notice. All views or opinions expressed may not reflect those of the entire company. Zacks Investment Research does not engage in any investment banking, market making or asset management activities in any securities. These returns come from hypothetical portfolios made up of stocks with Zacks Rank = 1 that have been rebalanced monthly with no transaction costs. These are not the returns on actual stock portfolios. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information on the performance metrics shown in this press release.
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