The top 11 autonomous car stocks to purchase right now will be discussed in this article. To exclude our thorough examination of the self-driving vehicle market and its prospects for expansion.
The need for autonomous cars has drastically changed the automotive industry as we know it.
Deloitte predicts that more than 30 million autonomous cars will be sold by 2040. The battle to develop a completely independent car is now being waged by some of the largest electric vehicle manufacturers of today, including Tesla, Inc. (NASDAQ: TSLA), General Motors Company (NYSE: G.M.), and Ford Motor Company (NYSE: F).
Another research predicts that by 2030, the industry for driverless vehicles will be worth more than $2 trillion. As a consequence, tech behemoths like Microsoft Corporation (NASDAQ: MSFT), Uber Technologies, Inc. (NYSE: UBER), and Alphabet Inc. (NASDAQ: GOOGL) are scrambling to take advantage of the demand for self-driving, artificial intelligence, and data technologies.
Industrial mobility is one of the industry's fastest-growing subsectors. Public transportation networks, industry robots, and autonomous trucks are all included in industrial mobility. One of the current significant participants in industrial mobility is Waymo, a self-driving vehicle business owned by Alphabet Inc. (NASDAQ: GOOGL). To continue developing its autonomous driving technology, Waymo received $2.5 billion in June 2021 as part of its second external financing round. In addition, Waymo Via, a self-driving vehicle from Alphabet Inc. (NASDAQ: GOOGL), is working with package delivery service UPS to move items throughout the U.S.
According to a McKinsey & Company report, one of the key factors driving greater sales in the autonomous vehicle industry is the Biden administration's increased investments, such as President Biden's target of having 50% of all new vehicle sales in the United States be zero-emission automobiles by 2030.
The top 11 autonomous car stocks to purchase right now will be discussed in this article. The need for autonomous cars has drastically changed the automotive industry as we know it. Deloitte predicts that more than 30 million autonomous cars will be sold by 2040. The battle to develop a completely independent car is now being waged by some of the largest electric vehicle manufacturers of today, including Tesla, Inc. (NASDAQ: TSLA), General Motors Company (NYSE: G.M.), and Ford Motor Company (NYSE: F).
Another research predicts that by 2030, the industry for driverless vehicles will be worth more than $2 trillion. As a consequence, tech behemoths like Microsoft Corporation (NASDAQ: MSFT), Uber Technologies, Inc. (NYSE: UBER), and Alphabet Inc. (NASDAQ: GOOGL) are scrambling to take advantage of the demand for self-driving, artificial intelligence, and data technologies.
Industrial mobility is one of the industry's fastest-growing subsectors. Public transportation networks, industry robots, and autonomous trucks are all included in industrial mobility. One of the current significant participants in industrial mobility is Waymo, a self-driving vehicle business owned by Alphabet Inc. (NASDAQ: GOOGL). To continue developing its autonomous driving technology, Waymo received $2.5 billion in June 2021 as part of its second external financing round. In addition, Waymo Via, a self-driving vehicle from Alphabet Inc. (NASDAQ: GOOGL), is working with package delivery service UPS to move items throughout the U.S.
The Biden administration's increased investments, such as President Biden's goal of having half of all new vehicle sales in the United States be zero-emission cars by 2030, are said to be some of the significant catalysts boosting increased sales in the autonomous vehicle market, according to a McKinsey & Company article.
Best Stocks To Buy For Autonomous Vehicles
Xpeng Inc. (NYSE: XPEV)
Electric vehicle maker Xpeng Inc. (NYSE: XPEV) is located in China and produces core vehicle technologies, in-car intelligent operating systems, and autonomous driving technology.
Guangdong Foday Automobile, a manufacturer of automobiles, was purchased by Xpeng in 2020. The deal will enable Xpeng to produce its cars.
Nineteen hedge funds that Insider Monkey was following had $784 million worth of positions in Xpeng Inc. (NYSE: XPEV) at the end of the second quarter of 2021. In the preceding quarter, there were 19 hedge funds with a total stake worth around $976 million.
Luminar Technologies (NASDAQ: LAZR)
The tenth most excellent autonomous car stock to purchase is Luminar Technologies, Inc. (NASDAQ: LAZR). The business was established in 2012 and is a California-based maker of sensors and software for autonomous vehicles. The company collaborates with well-known automakers, including Volvo, Daimler Trucks, and SAIC.
Volvo, the first major carmaker to provide the system as standard equipment, began integrating Luminar Technologies' lidar system into its electrified flagship SUV in 2020.
On June 25, Luminar Technologies, Inc. (NASDAQ: LAZR) was upgraded by a Baird analyst from Neutral to Outperform with a $30 price objective, up from $22 per share.
Insider Monkey followed twenty-one hedge funds at the end of the second quarter of 2021. Their interests in Luminar Technologies, Inc. (NASDAQ: LAZR) were valued at around $193 million. As opposed to 12 hedge funds with a combined investment worth around $39.2 million in the previous quarter.
Aptiv PLC (NYSE:APTV)
Ireland serves as the home base for the car components business Aptiv. The company manufactures autonomous cars and solutions through Motional, a joint venture between Aptiv and Hyundai Motor Firm.
Motional unveiled the all-electric IONIQ 5, its first robotaxi, in 2021. Before 2023, users can access the self-driving car through the Lyft app. With the use of an in-car computer, passengers can connect with the IONIQ 5 and instruct the robotaxi to make an additional stop, for example.
Forty hedge funds that Insider Monkey tracks had positions in Aptiv PLC (NYSE: APTV) at the end of the second quarter of 2021, valued at nearly $1.67 billion, compared to 50 hedge funds at the end of the first quarter with a total stake value of roughly $1.41 billion.
In its Q1 2021 investor letter, Oakmark Funds noted Aptiv PLC (NYSE: APTV): "Aptiv reached our estimates of intrinsic value and was, therefore, removed during the quarter. The business delivered positive results and was a dependable investment for the Fund. Though this dynamic is now more fully understood by the market, we still think Aptiv is a well-positioned auto supplier expected to continue outgrowing light vehicle production shortly.
Ford Motor Company (NYSE: F)
On the list of the top 11 autonomous vehicle stocks to purchase right now, Ford Motor Company (NYSE: F) comes in at number seven. Henry Ford created the global automaker in the United States in 1903. In 2020, Ford produced 4.187 million or more automobiles.
Ford Motor Company (NYSE: F) said in 2020 that it planned to use cars based on the Ford Escape Hybrid crossover to launch its self-driving commercial business in 2022. The self-driving vehicle is partnered with the fledgling startup Argo AI.
A total of $2.10 billion worth of positions in Ford Motor Company (NYSE: F) were owned by 55 hedge funds monitored by Insider Monkey at the end of the second quarter of 2021, up from 49 hedge funds at the end of the first quarter with a total stake value of around $2.19 billion.
Baidu (NASDAQ: BIDU)
Beijing-based Baidu, Inc. (NASDAQ: BIDU) is a Chinese internet and artificial intelligence firm.
The business collaborated with the E.V. brand ARCFOX of the BAIC Group for the Apollo Moon release. A next-generation robotaxi, Apollo Moon, is anticipated to be just a third as expensive as typical L4 autonomous cars.
KGI Securities began covering Baidu, Inc. (NASDAQ: BIDU) on September 9 with a Neutral rating and a HK$190 price target.
A total of $3.47 billion worth of interests in Baidu, Inc. (NASDAQ: BIDU) were owned by 59 hedge funds monitored by Insider Monkey at the end of the second quarter of 2021, down from 89 hedge funds at the end of the first quarter with a total stake value of nearly $6.57 billion.
Tesla (NASDAQ:TSLA)
Tesla, Inc. (NASDAQ: TSLA) is a U.S. electric vehicle and renewable energy business developing and producing electric cars, home and grid-scale battery energy storage, and associated goods. In only 2020, the company sent out over 500,000 devices. The business sold one million units of its electric car in June 2021, making it the first in the world to do it.
A total of $9.29 billion worth of interests in Tesla, Inc. (NASDAQ: TSLA) were owned by 60 hedge funds monitored by Insider Monkey at the end of the second quarter of 2021, down from 62 hedge funds at the end of the first quarter with a total stake value of nearly $10.01 billion.
Nvidia Corporation (NASDAQ:NVDA)
On the list of the top autonomous car stocks to purchase right now, Nvidia Corporation (NASDAQ: NVDA) is ranked fifth. The company's main business is designing and producing graphics processing units for the professional and gaming markets. Additionally, the industry creates complete end-to-end transportation safety and efficiency solutions, including data center infrastructure, software toolkits, libraries, and frameworks.
A total of $9.09 billion worth of positions in Nvidia Corporation (NASDAQ: NVDA) were owned by 86 hedge funds monitored by Insider Monkey at the end of the second quarter of 2021, up from 80 hedge funds at the end of the first quarter with a total stake value of around $6.20 billion.
In its investor letter for the second quarter of 2021, Harding Loevner mentioned Nvidia Corporation (NASDAQ: NVDA): "Within I.T., shares of US-based computer chip developer NVIDIA continued their ascent as rising demand across segments-from work-from-home laptops to data centers to cryptocurrency mining rigs-led to shortages that translated into surging prices for its chips. It was such a bonanza that NVIDIA even made technological adjustments to sure of its products to make them suitable for what it considers to be more environmentally friendly usage. The majority of excess profits came from strong stock performance in the U.S., which was less appealing to bitcoin miners because of the geography-based steering of constrained supply. A few I.T. software and service businesses also boosted relative gains, NVIDIA, and our health care holdings.
General Motors Corporation (NYSE: G.M.)
Early 2023 is when construction of the company's first autonomous car is anticipated at General Motors Company (NYSE: G.M.) via its majority-owned subsidiary Cruise.
86 hedge funds Insider Monkey has been following have investments in General Motors Company (NYSE: G.M.) at the end of the second quarter of 2021, totaling around $7.41 billion. With 86 interests, equaling a total stake worth almost $8.05 billion, consistent with the previous quarter.
Uber Technologies Inc. (NYSE: UBER)
Uber Technologies, Inc. (NYSE: UBER) made a $400 million investment in Aurora, a self-driving firm, in 2020. It's anticipated that the business will license Aurora's manufacturing technology.
Uber Technologies, Inc. (NYSE: UBER) was given a Buy rating with a $64 price target by Goldman Sachs analyst Eric Sheridan on September 13. Given the company's substantial economic and user capture, the analyst thinks it may be the next large-cap platform ecosystem.
Uber Technologies, Inc. (NYSE: UBER) was one of 135 hedge funds that Insider Monkey followed at the end of the second quarter of 2021.
Uber Technologies, Inc. (NYSE: UBER) was cited by RiverPark Funds in its Q2 2021 investor letter: "UBER was our #1 detractor for the quarter. Although declining year over year, ride-sharing has begun to rebound, and delivery growth is still robust (vs. pre-COVID results). Gross bookings increased 24 percent over the previous year, led by a 166 percent increase in delivery.
Despite the COVID disruption, UBER dominates the ridesharing industry globally, with a market share of more than 50% in each important location where it does business. In addition, the company is a market leader in meal delivery (64 percent of 1Q21 sales), ranking first or second globally across its more than 25 operating markets. In our opinion, UBER offers more than simply ridesharing and food delivery. It is also a global mobility platform with the potential to expand into other on-demand service industries, including grocery delivery, truck brokerage, and shift worker staffing. Amazon Prime has more than 130 million subscribers. In March, it achieved a $3 billion annualized run rate for its New Verticals (non-food delivery services including groceries, convenience, and alcoholic beverages), an increase of 77% over the previous quarter.
UBER trades at four times the revenue from its two primary operations for the next year at its market valuation of $91 billion. The corporation also has significant, unrealized value in its several emerging development businesses and another $13 billion in equity investments in globally synergistic companies.
Alphabet Inc. (NASDAQ: GOOGL)
Alphabet Inc. is ranked second on the list of the top 11 stocks for autonomous vehicles to purchase (NASDAQ: GOOGL). The global internet-related services and products offered by Alphabet Inc. (NASDAQ: GOOGL) are remarkable.
Through its affiliated firm Waymo, the corporation runs its autonomous car division. Waymo collected $2.5 billion in a financing round earlier this year to further its driverless vehicle technology.
Brad Erickson, an analyst with RBC Capital, began covering Alphabet Inc. (NASDAQ: GOOGL) on October 1 with an Outperform rating and a $3,400 price target. The analyst noted his positive assessments of YouTube's market share increases and the company's core search business's long-term price potential.
In its investor letter for the second quarter of 2021, Mawer Investment Management noted Alphabet Inc. (NASDAQ: GOOGL): "Many higher growth firms posted solid results amid the pick-up in broad economic activity including Alphabet. These more excellent growth enterprises were encouraged when long-term interest rates stabilized throughout the period because they tended to be more sensitive to changes in discount rates.
Microsoft (NASDAQ:MSFT)
Microsoft Corporation is at the top of the list of the 11 best stocks for autonomous vehicles to purchase (NASDAQ: MSFT). Microsoft is well-known for its personal computers, consumer electronics, and computer software. The business is situated in Washington and was established in 1975.
Microsoft Corporation (NASDAQ: MSFT) and Volkswagen Group have partnered to create a specific cloud-based platform for the following autonomous vehicle technologies.
Ivan Feinseth, a Tigress Financial analyst, boosted the price objective for Microsoft Corporation (NASDAQ: MSFT) shares from $303 to $366 on September 17 while maintaining a Buy rating on the stock.
Two hundred thirty-eight hedge funds that Insider Monkey was tracking have interests in Microsoft Corporation (NASDAQ: MSFT) at the end of the second quarter of 2021, totaling around $62.46 billion.
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