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in Tech

Mobileye shares plunge after chipmaker warns of order pullback

by Editor January 7, 2024, 12:57 pm 1.9k Views

Mobileye signage is displayed during the company’s initial public offering at the Nasdaq MarketSite in New York on Oct. 26, 2022.

Michael Nagle | Bloomberg | Getty Images

Mobileye, the self-driving technology company majority owned by Intel, warned on Thursday that it expected that

would drop off dramatically for the first quarter of 2024.

Shares plunged as much as 25% on the news during Thursday morning trading.

“We have become…

Posted by Editor