Top Stocks to Invest in as Self-Driving Car Trend Increases
While manufacturers are still perfecting automated vehicle technology, it’s likely that the gradual increase of self-driving cars on the roads will result in a boost in certain stocks. Like with any new invention, the rise in automated vehicles will catalyze a demand for new products and services. Colin Langan with UBS led a team of analysts to uncover which software developers, hardware makers, and other vendors will profit from the budding technology. According to UBS, you should consider buying stock in the following eight parts suppliers in the near future.
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This auto parts manufacturer based in Plymouth, Michigan is one of the top stocks worth investing in. As UBS predicted, “[Adient] should benefit from increased seating content as adoption of autonomous vehicles alters the interior of the car.”
Stocks for Aptiv are expected to do exceedingly well as self-driving vehicle technology continues to progress, since the company is focused on innovative designs for vehicle electrical systems and software platforms.
A powerhouse in the powertrain supplies and electronics field, BorgWarner is poised for continued success in the days to come.
This entity is known for aftermarket, advanced propulsion, and powertrain products. Delphi Technologies has the potential to benefit from EV technology if it hones this specialization.
Seating and electrical systems are the strong points of this corporation. UBS listed the year-to-date performance as +13.4%.
Diversity is this company’s forte since it specializes in electronics, seating, vehicle bodies, and vision/LiDAR systems. All four amenities should increase in demand as self-driving technology advances. UBS rated the year-to-date performance as +16.35%.
This parts supplier and aftermarket product manufacturer is yet another healthy option to invest in. As the UBS team articulated, “We see indirect opportunities from advanced suspension. Also the increase in miles traveled should help [Tenneco’s] aftermarket business.”
Visteon is just one of the electronics suppliers that should have an advantage in the future market. UBS forecasted that the company’s DriveCore and display electronics were two areas where the entity will shine in the days ahead.
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News Source: Markets Insider