Keep an eye on lidar stocks.
Lidar, according to CNBC, “is a core component for self-driving cars that allows their computers to take a 3D image of the world around them. The sensors measure the range or velocity of objects using a process that is similar to radar — they bounce lasers off objects and when the light returns, the sensors can calculate how far away the object is and if it’s moving.”
Reportedly, Apple is finalizing a deal with Hyundai-Kia to manufacture autonomous vehicles. At the moment, it’s tentatively scheduled to go into production by 2024.
“The first Apple Cars will not be designed to have a driver,” reported CNBC. “These will be autonomous, electric vehicles designed to operate without a driver and focused on the last mile.” That could mean Apple cars, at least initially, could focus on package food delivery operations and firms incorporating robotaxis, they added.
With that in mind, investors may want to consider stocks like Velodyne Lidar Inc. (VLDR), which makes lidar sensors, Luminar Technologies (LAZR), and Collective Growth Corp. (CGRO).