"Mobileye's Revenue Warning Sends Stock Tumbling Amid Supply Concerns"

Mobileye, a self-driving tech company owned by Intel, has seen its shares drop by up to 25% after forecasting a significant decrease in customer orders for Q1 2024 due to excess inventory. Automakers had overstocked on Mobileye's chips to mitigate past supply chain disruptions, but as these concerns have subsided, the company expects a reduction in new orders. Despite the recent plunge, shares are still up around 12% from the IPO price. Intel, which took Mobileye public again in 2022, retains an 88% stake in the company.