Promising Automotive Stocks To Add to Your Watchlist – April 17th

Rivian Automotive, Monolithic Power Systems, and AutoZone are the three Automotive stocks to watch today, according to MarketBeat’s stock screener tool. Automotive stocks are shares of publicly traded companies involved in the design, manufacture, distribution, and sale of motor vehicles and related components and services, including traditional automakers, parts suppliers, electric vehicle makers, and mobility-service firms. Investors buy these stocks to gain exposure to the automotive sector’s revenue and growth prospects, with performance driven by factors like consumer demand, commodity and supply-chain costs, regulation, and technological trends such as electrification and autonomy. These companies had the highest dollar trading volume of any Automotive stocks within the last several days.

Rivian Automotive (RIVN)

Rivian Automotive, Inc., together with its subsidiaries, designs, develops, manufactures, and sells electric vehicles and accessories. The company offers consumer vehicles, including a two-row, five-passenger pickup truck under the R1T brand, a three-row, seven-passenger sport utility vehicle under the R1S name.

Monolithic Power Systems (MPWR)

Monolithic Power Systems, Inc. engages in the design, development, marketing, and sale of semiconductor-based power electronics solutions for the storage and computing, automotive, enterprise data, consumer, communications, and industrial markets. The company provides direct current (DC) to DC integrated circuits (ICs) that are used to convert and control voltages of various electronic systems, such as cloud-based CPU servers, server artificial intelligence applications, storage applications, commercial notebooks, digital cockpit, power sources, home appliances, 4G and 5G infrastructure, and satellite communications applications.

AutoZone (AZO)

AutoZone, Inc. retails and distributes automotive replacement parts and accessories in the United States, Mexico, and Brazil. The company provides various products for cars, sport utility vehicles, vans, and light trucks, including new and remanufactured automotive hard parts, maintenance items, accessories, and non-automotive products.