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BUZZ-Mobileye skids on weak full-year rev outlook

ReutersJan 30, 2025 2:16 PM

** Shares of self-driving tech firm Mobileye MBLY.O down 7.9% premarket to $14.75 after rev outlook disappoints Wall Street

** MBLY shares on track to open at lowest levels since early Nov, if losses hold

** Israeli-based firm, majority owned by Intel INTC.O, said early Thurs expects fiscal 2025 rev of $1.69-$1.81 bln compared to LSEG estimate of $1.94 bln on weak China demand

** For Q4, it reported rev above consensus, but that figure fell 23% y/y due to less demand for its EyeQ chips given supply glut at its major customers

** Of 28 analysts covering MBLY, recommendation breakdown is 15 "strong buy" or "buy", 10 "hold" and 3 "sell" - LSEG

** Median PT of $20 up from $17.50 on Oct 30

** Through Weds close, shares off ~20% YTD following 54% drop in 2024

** Meanwhile, INTC slated to report results after the bell with CEO search in focus

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