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Yahoo
14 minutes ago
- Yahoo
This Self-Driving Car Stock Is Heating Up as Tesla Puts the Spotlight on Robotaxis. Should You Buy It Here?
Innoviz (INVZ) shares have been in focus in recent sessions as Tesla's (TSLA) upcoming launch of robotaxi services in Austin keeps investors particularly interested in self-driving car stocks. However, the company that specializes in LiDAR sensors is not riding on speculation only. In fact, Innoviz has just landed two major agreements that could boost its capabilities as well as the stock price. Trump Is Giving Tesla's Robotaxis a Leg Up Ahead of June 22. Should You Buy TSLA Stock Now? Dear Nvidia Stock Fans, Mark Your Calendars for July 16 The Trump Family Is Betting Big on Mobile Phones. Should Apple Stock Investors Be Worried? Stop Missing Market Moves: Get the FREE Barchart Brief – your midday dose of stock movers, trending sectors, and actionable trade ideas, delivered right to your inbox. Sign Up Now! On Wednesday, Innoviz stock is up some 20% on the back of a deal with Cogniteam and another with a renowned global automaker. Innoviz has signed a 'Statement of Development Work' with a top-5 global automaker to supply its InnovizTwo LiDAR system for a Level 3 autonomous driving vehicle slated for production in 2027. INVZ will soon begin delivering hundreds of tailored sensors and software modules, positioning the company as a Tier-1 partner. This agreement accelerates the Nasdaq-listed firm's move into the mass-market automotive space and opens the door to large-scale production deals. For Innoviz stock, this means three significant benefits: near-term revenue from early deliveries, long-term upside tied to a production contract, and validation from a blue-chip OEM. As CEO Omer Keilaf said in a recent press release, working with 'one of the most respected automotive manufacturers' boosts INVZ's credibility and market positioning. Innoviz's collaboration with Cogniteam, announced this morning, integrates the latter's AIoT analytics into InnovizSMART Long-Range LiDAR. The outcome? A plug-and-play solution that finds far-reaching applications within the safety and security niche. This deal helps diversify INVZ's revenue streams beyond automotive manufacturing. It taps into the fast-growing security and surveillance market – which typically offers higher margins and quicker sales cycles. In short, the Cogniteam partnership underscores Innoviz's ability to leverage the same LiDAR tech in versatile, value-added applications – enhancing its competitive moat. Despite an explosive rally over the past two months, Wall Street analysts continue to see significant further upside in Innoviz stock. According to Barchart, the consensus rating on INVZ shares remain at 'Strong Buy' with the mean target of $2.41 indicating potential upside of roughly 80% from current levels. On the date of publication, Wajeeh Khan did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

Wall Street Journal
26 minutes ago
- Wall Street Journal
Surging Silver Prices Prompt Americans to Empty Jewelry Boxes and Coin Jars
Gold gets all the glory, but silver prices have surged nearly as much this year, up 27% to the highest levels in more than a decade. As with gold, jittery investors are scooping up the precious metal, but silver prices are getting an extra jolt from strong industrial demand, especially from solar-panel makers.


Bloomberg
37 minutes ago
- Bloomberg
Bloomberg Daybreak Asia: US Futures Pare Losses as Trump Weighs Iran Role
US equity futures moderated declines early Friday as President Donald Trump weighs whether to back Israel militarily in its conflict with Iran. Contracts for the S&P 500 were down around 0.3% from Wednesday's close in early Asia hours, compared with a 0.9% drop on Thursday when US markets were closed for the Juneteenth holiday. While traders were offered some short-term clarity as the White House said Trump will decide within two weeks whether to strike Iran, the remarks did little to resolve broader uncertainty around potential US involvement and the risk of renewed energy-driven inflation. For more on what's ahead, we heard from Maria Rost Rublee, Professor of International Relations at the University of Melbourne. She speaks with Bloomberg's Shery Ahn and Haidi Stroud-Watts. Markets were already on edge after the Federal Reserve downgraded its estimates for growth this year and projected higher inflation. As projected, Fed officials held rates steady at their policy meeting this week. We get some analysis from David Laut, Chief Investment Officer at Abound Financial.