Mobileye's excess inventory alert puts strain on automotive chip sector
Mobileye forecasts preliminary 2024 revenue below estimates, showing that the automotive chip industry, which had so far avoided the chip supply glut crisis, will likely face a downturn too
Mobileye Global issued a cautionary statement on Jan. 4, signaling that a reduction in orders from customers seeking to clear excess inventory would negatively impact its results for the year, according to a report published by Reuters on Jan. 4.
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