For Immediate Release
Chicago, IL – November 2, 2018 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include Alphabet (GOOGL - Free Report) , Apple (AAPL - Free Report) , Ford (F - Free Report) , Baidu (BIDU - Free Report) and Microsoft (MSFT - Free Report) .
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Here are highlights from Thursday’s Analyst Blog:
Driverless Cars Hit the Roads for Testing: Stocks in Focus
Alphabet’s Waymo, the self-driving technology firm, has earned the first permit in the state of California to start testing its driverless cars on public roads, Fortune cited earlier this week.
More self-driving cars can be seen on public streets going forward too, as Apple and Uber will also take their driverless cars out for testing in the near term. However, the only difference between Waymo and other self-driven cars is that the former has no humans sitting in the car during testing to look out for public safety.
Self-driven or robotic cars are being developed to offer an efficient transportation system minus the fear of human errors resulting in accidents. According to Allied Market Research, a crucial reason for the advancement of robotic cars is the estimation that these could reduce fuel consumption and insurance costs by 10% and 30%, respectively.
The advancement of self-driven car technologies brings into focus many prominent players from auto and technology industries that could see good growth ahead. Therefore, it would perhaps be ideal to add such stocks to your watch list.
On Oct 31, Ford and Baidu announced a collaboration to test self-driving cars in China for two years, CNBC reported. The companies will develop and test self-driven vehicles that will abide by U.S. industry organization SAE International’s level 4 standards.
"Working with a leading tech partner like Baidu allows us to leverage new opportunities in China to offer innovative solutions that improve safety, convenience and the overall mobility experience," Ford's autonomous vehicles unit’s president and CEO Sherif Marakby said.
The Ford-Baidu collaboration enhanced the competition for their U.S. rivals in the field of self-drive technology and advancement in artificial intelligence. Companies such as Microsoft, Alphabet and Apple, which are relying on their investments and innovation in the area of artificial intelligence, could have a hard time facing the Ford-Baidu alliance.
The Future of Autonomous Cars
According to Grand View Research, the industry for driverless cars and trucks is estimated to witness a compound annual rate of 63.1% in the 2021-2030 period. The number of such vehicles hitting the market by 2020 is expected to be 6.7 thousand.
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