Why Intel, Alphabet, and Mobileye Stocks All Popped Today

Intel and Mobileye Soar on News of Autonomous Vehicle Deal

Intel's shares jumped 10% after the chipmaker announced a partnership with Mobileye to develop self-driving cars.

The deal will see Intel provide the chips for Mobileye's autonomous driving system, which is used by automakers such as BMW, Ford, and Nissan.

Analysts say the partnership is a major win for Intel, which is looking to expand its presence in the automotive market.

Alphabet's Stock Rises on Strong Earnings Report

Alphabet, the parent company of Google, saw its stock rise 4% after reporting strong earnings for the fourth quarter of 2022.

The company's revenue grew 23% year-over-year to $75.3 billion, driven by strong growth in its advertising and cloud computing businesses.

Alphabet also announced a $50 billion stock buyback program, which investors welcomed.

Mobileye's Stock Climbs on Positive Analyst Coverage

Mobileye's stock rose 5% after several analysts issued positive reports on the company.

The analysts cited the company's strong financial performance and its leadership position in the autonomous driving market.

Mobileye is expected to benefit from the growing demand for self-driving cars, as automakers look to reduce costs and improve safety.