Mobileye sees being on track to meet EyeQ volume guidance

While speaking at the Morgan Stanley Technology, Media & Telecom Conference, executives from Mobileye stated: “On our Q4 call, we said that we expected Q1 EyeQ volume to be around 3.4 million units and that we would see an increase of at least 100% in Q2 versus Q1 and at that point the vast majority of the excess inventory would be cleared out. Based on our current view, which includes a significant number of customer commitments we’ve received for Q2, we believe we are on track to meet that outlook in those statements and that we continue to expect volumes to get back to normalized levels in the second half of the year.” Shares of Mobileye are up $2.26, or 9%, to $27.22 as the company continues presenting at the conference.