💨 Abstract

Mobileye, a company specializing in assisted driving technology, forecasted lower revenue for fiscal 2025 due to decreased shipments to China, impacted by local competition and lower costs. The company's shares dropped more than 12% in premarket trading. Despite beating Q4 revenue expectations, Mobileye reported a 23% decline year-over-year due to reduced demand for its EyeQ chips.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖