Wolfe Research assumed coverage and downgraded Mobileye to Peer Perform from Outperform. China, the company’s largest market that accounts for 29% of its revenue, is expected to have its run-rate shipments of Base EyeQ SoCs fall 40%, the analyst tells investors in a research note. The adoption of hands-free systems outside of China could also be much slower, the firm notes, stating that while it is seeing strong adoption inside China, the picture is very different outside of China.
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