Automotive Stocks To Add to Your Watchlist - April 23rd

Key Points

• MPWR, RIVN, and AZO are MarketBeat's three automotive stocks to watch, chosen because they had the highest dollar trading volume in recent days.
• Monolithic Power Systems (MPWR) makes DC-to-DC power ICs for automotive, data center, and communications applications, and its recent surge has raised questions about whether valuation has caught up to growth.
• Rivian (RIVN) is an EV maker known for the R1T pickup and R1S SUV, while AutoZone (AZO) is a major auto-parts retailer in the U.S., Mexico and Brazil, offering investors exposure to EV manufacturing versus parts retailing.

Monolithic Power Systems, Rivian Automotive, 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 whose primary business is the design, manufacture, distribution, or sale of motor vehicles and related parts, services, or technologies (including automakers, parts suppliers, dealers, EV makers, and mobility-service firms). Investors buy these stocks to gain exposure to the automotive sector’s revenue and profit potential, while accepting risks tied to economic cycles, commodity prices, regulation, and technological disruption. These companies had the highest dollar trading volume of any Automotive stocks within the last several days.

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.

Read Our Latest Research Report on MPWR

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.

Read Our Latest Research Report on RIVN

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.

Read Our Latest Research Report on AZO

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