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Technology Stocks : Investing in Exponential Growth

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From: Paul H. Christiansen	7/24/2016 11:11:00 AM
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Mobileye Bears Folding as Tighter Grip Seen on Driverless Future Bearish bets against Mobileye NV are receding after the maker of chips and software for driverless cars said it would team up with BMW AG and Intel Corp. to deliver fully-autonomous cars by 2021. Investors say Mobileye’s pact with BMW shows it has gone beyond advanced driver-assistance systems to establish itself as a key partner for automakers as they step up investment in the race to achieve fully-autonomous driving. The stock’s meteoric rise after a $1 billion initial public offering in 2014 made it a target for short sellers like Citron Research, which argued its valuation implied a quasi-monopoly status for what was essentially an early-to-the-game chipmaker with no moat to fend off competition. “People were worried they’d be a vision player who would get leap-frogged or commoditized,” said Joseph Fath, who helps oversee about $65 billion at T.Rowe Price in Baltimore, including Mobileye shares. “Autonomous capability driving is going to come faster than expected and this is the purest way to play it.” bloomberg.com

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