Mobileye: Time To Be Contrarian

gremlin Mobileye (NASDAQ:MBLY) 4Q23 results that were recently published reflected the preliminary guidance that was provided earlier in January, but I found the 4Q23 results incrementally positive for both the near-term and long-term for Mobileye. With Mobileye down more than 40% from its highs, I argue that this is the time to be a contrarian, especially for patient long-term investors. This presents an excellent contrarian opportunity, as the company’s fundamentals are actually improving amidst a cyclical downturn in its EyeQ chips. 4Q23 in-line with guidance In 4Q23, Mobileye saw revenues grow 13% from the prior year to $637 million, which…