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Enovix Clinches Landmark Purchase Order for Silicon Batteries
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Enovix Corporation (ENVX - Free Report) recently stated that it has secured a significant pre-paid purchase order from a Silicon Valley-based global technology leader in artificial intelligence (AI) and immersive technologies. The order is for a cutting-edge battery solution designed specifically for next-generation head-worn Mixed Reality (MR) wearables. These batteries will power the revolution in smart glasses, augmented reality devices and other cutting-edge MR products.
According to the terms of the deal, Enovix is expected to deliver initial shipments by mid-2025, cementing its position as a leader in providing revolutionary battery solutions.
This marks an important moment for Enovix. It not only adds significant contracted backlog to Fab2 in Penang, Malaysia, but also solidifies Enovix's position as a reliable partner for custom battery development with one of the largest and most influential businesses driving AI and MR research. MR headsets are a great application for its 3D silicon anode technology, which meets the stringent requirements for high energy density, compact form factors and unrivaled performance.
With the release of EX-1M this year and EX-2M planned for 2026, Enovix is set to strengthening the MR ecosystem by providing customized battery solutions that power next-generation devices.
In the past year, shares of ENVX have gained 3.8% against the industry’s 76.1% rise.
Image Source: Zacks Investment Research
ENVX’s Zacks Rank & Key Picks
ENVX currently carries a Zacks Rank #3 (Hold).
Better-ranked stocks in the Oil Energy space include DT Midstream Inc. (DTM - Free Report) , TechnipFMC plc (FTI - Free Report) and National Fuel Gas Company (NFG - Free Report) .
DTM currently sports a Zacks Rank #1 (Strong Buy). DTM beat the Zacks Consensus Estimate in three of the last four quarters, while missing once with the average earnings surprise being 10.5%. The company's shares have soared 94.3% in the past year. You can see the complete list of today's Zacks #1 Rank stocks here.
FTI, which currently carries a Zacks Rank #1, beat the consensus estimate in each of the trailing four quarters. In this time frame, it has delivered an earnings surprise of roughly 39.3%, on average. FTI’s shares have rallied 72.7% over the past year.
NFG, currently carrying a Zacks Rank #1, beat the consensus estimate in three of the last four quarters and missing once, with the average earnings surprise being 9.5%. NFG has gained around 22.5% in the past year.
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Enovix Clinches Landmark Purchase Order for Silicon Batteries
Enovix Corporation (ENVX - Free Report) recently stated that it has secured a significant pre-paid purchase order from a Silicon Valley-based global technology leader in artificial intelligence (AI) and immersive technologies. The order is for a cutting-edge battery solution designed specifically for next-generation head-worn Mixed Reality (MR) wearables. These batteries will power the revolution in smart glasses, augmented reality devices and other cutting-edge MR products.
According to the terms of the deal, Enovix is expected to deliver initial shipments by mid-2025, cementing its position as a leader in providing revolutionary battery solutions.
This marks an important moment for Enovix. It not only adds significant contracted backlog to Fab2 in Penang, Malaysia, but also solidifies Enovix's position as a reliable partner for custom battery development with one of the largest and most influential businesses driving AI and MR research. MR headsets are a great application for its 3D silicon anode technology, which meets the stringent requirements for high energy density, compact form factors and unrivaled performance.
With the release of EX-1M this year and EX-2M planned for 2026, Enovix is set to strengthening the MR ecosystem by providing customized battery solutions that power next-generation devices.
In the past year, shares of ENVX have gained 3.8% against the industry’s 76.1% rise.
Image Source: Zacks Investment Research
ENVX’s Zacks Rank & Key Picks
ENVX currently carries a Zacks Rank #3 (Hold).
Better-ranked stocks in the Oil Energy space include DT Midstream Inc. (DTM - Free Report) , TechnipFMC plc (FTI - Free Report) and National Fuel Gas Company (NFG - Free Report) .
DTM currently sports a Zacks Rank #1 (Strong Buy). DTM beat the Zacks Consensus Estimate in three of the last four quarters, while missing once with the average earnings surprise being 10.5%. The company's shares have soared 94.3% in the past year. You can see the complete list of today's Zacks #1 Rank stocks here.
FTI, which currently carries a Zacks Rank #1, beat the consensus estimate in each of the trailing four quarters. In this time frame, it has delivered an earnings surprise of roughly 39.3%, on average. FTI’s shares have rallied 72.7% over the past year.
NFG, currently carrying a Zacks Rank #1, beat the consensus estimate in three of the last four quarters and missing once, with the average earnings surprise being 9.5%. NFG has gained around 22.5% in the past year.