Developing a Self-driving car is one of the main aims for every carmaker. Automobile manufacturers are now learning to adapt this new technology.
The investors also need a change in the stock market. As we look for stocks in the automotive industry, we have to start looking back to the traditional carmakers to find out those who have already started working with the autonomous vehicle revolution.
The top car manufacturers, including Ford, General Motors, and Fiat Chrysler, have all started working on their own self-driving cars.
Nvidia's autonomous car offers a new Drive Automotive Technology for its automaker partners. The company currently offers a digital cockpit computer, a self-driving computer, and an auto-focused deep learning computer. Nvidia's Tegra mobile processors are also compatible for in-car use.
The most recent investor, Rob Csonger, Nvidia's VP of Automotive, highlighted several key details in an auto-focused presentation . Csonger pointed the strong historical growth in the company's automotive division, and future growth as two reasons to be positive about this segment of the company.
Looking for the future, Nvidia is planning to market 20 million cars for digital cockpit products, and 15 million cars that will need self-driving car technology.
Nvidia is a Zacks Rank #1 at the stock market. Since it posted its latest earnings beat of nearly 19 percent, analysts have been checking their future estimates for Nvidia upwards.