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Automotive Stocks To Keep An Eye On - October 6th

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Key Points

  • Seven automotive stocks to watch include SoundHound AI, Monolithic Power Systems, AutoZone, Rivian Automotive, Upstart, O'Reilly Automotive, and Group 1 Automotive, noted for their high trading volumes recently.
  • Each of these companies plays a crucial role in the automotive sector, ranging from manufacturing electric vehicles to providing AI solutions in customer service.
  • Investors are drawn to automotive stocks due to their potential for growth driven by factors such as technological innovation and cyclical economic performance.
  • Interested in SoundHound AI? Here are five stocks we like better.

SoundHound AI, Monolithic Power Systems, AutoZone, Rivian Automotive, Upstart, O'Reilly Automotive, and Group 1 Automotive are the seven Automotive stocks to watch today, according to MarketBeat's stock screener tool. Automotive stocks are shares of publicly traded companies whose primary business involves designing, manufacturing, distributing or servicing motor vehicles and related parts. Investors buy these equities to gain exposure to the performance and profitability of the auto industry, which tends to be cyclical and sensitive to economic conditions. By holding automotive stocks, shareholders participate in potential growth driven by factors such as technological innovation, consumer demand and global sales trends. These companies had the highest dollar trading volume of any Automotive stocks within the last several days.

SoundHound AI (SOUN)

SoundHound AI, Inc. develops independent voice artificial intelligence (AI) solutions that enables businesses across automotive, TV, and IoT, and to customer service industries to deliver high-quality conversational experiences to their customers. Its products include Houndify platform that offers a suite of Houndify tools to help brands build conversational voice assistants, such as Application Programming Interfaces (API) for text and voice queries, support for custom commands, extensive library of content domains, inclusive software development kit platforms, collaboration capabilities, diagnostic tools, and built-in analytics; SoundHound Chat AI that integrates with knowledge domains, pulling real-time data like weather, sports, stocks, flight status, and restaurants; and SoundHound Smart Answering is built to offer customer establishments custom AI-powered voice assistant.

Read Our Latest Research Report on SOUN

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

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

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

Upstart (UPST)

Upstart Holdings, Inc., together with its subsidiaries, operates a cloud-based artificial intelligence (AI) lending platform in the United States. Its platform includes personal loans, automotive retail and refinance loans, home equity lines of credit, and small dollar loans that connects consumer demand for loans to its to bank and credit unions.

Read Our Latest Research Report on UPST

O'Reilly Automotive (ORLY)

O'Reilly Automotive, Inc., together with its subsidiaries, operates as a retailer and supplier of automotive aftermarket parts, tools, supplies, equipment, and accessories in the United States, Puerto Rico, and Mexico. The company provides new and remanufactured automotive hard parts and maintenance items, such as alternators, batteries, brake system components, belts, chassis parts, driveline parts, engine parts, fuel pumps, hoses, starters, temperature control, water pumps, antifreeze, appearance products, engine additives, filters, fluids, lighting products, and oil and wiper blades; and accessories, including floor mats, seat covers, and truck accessories.

Read Our Latest Research Report on ORLY

Group 1 Automotive (GPI)

Group 1 Automotive, Inc., through its subsidiaries, operates in the automotive retail industry in the United States and the United Kingdom. The company sells new and used cars, light trucks, and vehicle parts, as well as service and insurance contracts; arranges related vehicle financing; and offers automotive maintenance and repair services.

Read Our Latest Research Report on GPI

See Also

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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