Do You Have These Autonomous Vehicle Stocks On Your Watchlist?

Over the past few years, autonomous vehicle (AV) stocks have been rising in popularity among investors in the stock market. While it may be true that electric vehicle (EV) stocks have been making the headlines, the AV industry has also been making strides. Today, more and more cars are going electric and if you have been paying attention, most new cars would also have some form of semi-autonomous features. So, whether we like it or not, it appears that the day will come when most cars will run on electricity and drive autonomously. 

Well, that day could be closer than you think. In Phoenix, Arizona, people already have access to fully autonomous ride-hailing services by Alphabet’s (NASDAQ: GOOGL) Waymo. Furthermore, tech giant Amazon (NASDAQ: AMZN) is also showing greater interest in the AV space lately. It appears that a subsidiary of Amazon has secured a warrant to acquire 39.6 million shares in Velodyne Lidar (NASDAQ: VLDR), driving VLDR stock higher today. With that said, it is a fact that the industry is still relatively young but with plenty of room to grow. So, if you are willing to buy into the future of the industry, here are some of the top AV stocks to consider in the stock market today. 

Autonomous Vehicle Stocks To Watch In February 2022


Aptiv is a global technology company serving the automotive sector. For those unaware, the company designs and manufactures vehicle components. In addition, Aptiv also provides electrical and electronic solutions, and safety technology solutions to the global automotive and commercial vehicle markets. So, with more than 180,000 people across 124 manufacturing facilities worldwide, it readily addresses mobility’s toughest challenges right now.

Last week, Aptiv announced its fourth quarter and full-year 2021 financial results. Despite a drop of 2% in its U.S. GAAP revenue in the fourth quarter, it was still a successful 2021 for the company. For the full year of 2021, its U.S. GAAP revenue increased to $15.6 billion, up 20% compared to the prior year. Meanwhile, it recorded a net income of $527 million or diluted earnings per share of $19.4. On top of that, Aptiv will also be among the first organizations to get early access to Fast Radius’s cloud manufacturing software. Hence’ it will have the ability to use pre-release features that allow its team to better collaborate on design and manufacturing processes. Given all these factors, should you be keeping tabs on APTV stock?

APTV stock chart
Source: TD Ameritrade TOS

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Following that, we will be looking at the semiconductor company, Ambarella. In detail, it primarily develops low-power system-on-a-chip (SoC) semiconductors. Besides that, it also focuses on creating AI technology that enables edge devices to visually perceive the environment and make decisions based on the data collected from cameras and other types of sensors.

In January, the company and Seeing Machines Limited announced a strategic partnership. Seeing Machines is an advanced computer vision technology company that designs AI-powered operator monitoring systems to improve transport safety. This new collaboration will bring its industry-leading OMS and DMS technology solutions to Ambarella’s CV2x CVflow family of edge AI perception SoCs. As a result, both companies will collaborate towards integrated forward-facing ADAS and in-cabin occupant and driver monitoring system solutions. For a driverless future to be possible, these are technologies that could have a significant impact. With that in mind, would you say AMBA stock is a top automotive stock to watch?

AMBA stock chart
Source: TD Ameritrade TOS

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Another company that will likely play an important role in the future of the AV industry is Luminar. In detail, the company is a developer of advanced sensor technologies that cater to the AV industry. It operates through two business segments, Autonomy Solutions, and Component Sales. On one hand, its Autonomy Solution segment is responsible for the manufacturing and distribution of commercial lidar sensors. Meanwhile, its Component Sales segment focuses on the business of developing ultra-sensitive pixel-based sensors. 

In fact, the company just announced last month a partnership with Mercedes-Benz to accelerate the development of AV technologies for Mercedes passenger cars. Luminar’s Iris lidar technology is expected to improve vehicle safety and the technical capabilities of automated driving systems. Looking at the larger picture, this partnership represents a major commercial win for Luminar. All things considered, could LAZR stock continue to grow?

LAZR stock chart
Source: TD Ameritrade TOS


Nvidia may come as a surprise to those new to the AV space. Traditionally, people would recognize the company as one of the leading artificial intelligence computing companies. Its GeForce graphics processing units (GPU) are widely used for high-end computing and AI applications. Today, Nvidia also has a strong presence in the AV industry through its NVIDIA DRIVE family of products.

For starters, the company’s DRIVE Hyperion™ offers an AV development platform and reference architecture for developing Level 2+ and Level 3 highway autonomous solutions. Well, it has a complete sensor suite that’s tuned, optimized, and comes with a high-performance AI computing platform, the DRIVE AGX. Therefore, this end-to-end platform can be integrated into a test vehicle which allows developers to build and evaluate self-driving technology at scale. Given these considerations, would you consider NVDA stock a top AV stock to watch?

NVDA stock chart
Source: TD Ameritrade TOS

[Read More] Top Dividend Stocks To Watch This Week


Last but not least, we have the self-driving vehicle technology company, Aurora. The company’s Aurora Driver is a platform that brings together software, hardware, and data services. Also, its custom-designed sensor suite includes FirstLight Lidar, long-range imaging radar, and cameras that work together to build a three-dimensional representation of the world. As a result, it could autonomously operate passenger vehicles, light commercial vehicles, and heavy-duty trucks. 

Last month, the company provided an outline of its product milestones on the path to commercial launch. By the end of the first quarter of 2022, it will be able to launch the Aurora Driver Beta 2.0. This will be the first test fleet of Aurora Driver-powered Toyota Siennas for ride-hailing and the next generation of Aurora Driver-powered trucks. On top of that, Aurora plans to demonstrate that the Aurora Driver can respond to system failures at highway speeds in the third quarter of this year. Overall, these are exciting milestones for the company to achieve as it continues to show promising growth potential. So, would you invest in AUR stock right now?

AUR stock chart
Source: TD Ameritrade TOS

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