Mobileye Rebounds as Raymond James Defends Against Hotz Threat

By Tiernan Ray Shares of chip designer Mobileye (MBLY) are bouncing back today after dropping sharply yesterday as noted short sellers Citron Research called the stock the “short of the year,” citing a Bloomberg article about potential competition from programming star George Hotz. Coming to Mobileye’s defense this morning is Raymond James’s Tavis McCourt, who has an Outperform rating on the shares, and who terms this bit of news the “autonomous world soap opera.” After noting that Hotz’s feat of “hacking the iPhone” in 2007, the first person to do so, “turned out not to be a very good sell” for Apple shares, McCourt goes on to question whether what Hotz has achieved is really any threat to Mobileye: We would note that Mobileye’s development of algorithms for autonomous driving also utilizes…


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