It seems like autonomous cars will be the future of the world because several companies like Tesla, Google and few others are experimenting their driverless vehicles. A driverless vehicle is defined as a car which can operate without the involvement of any human being. The vehicle is programmed with specific sensors, algorithms, and software commands. Driverless vehicles are still in the experimenting mode as analysts do not think them suitable for the environment because accidents cannot be prevented in this case. According to sources, by the year 2030, the share of driverless vehicles will increase to $60 billion. A study by Statista claims that 85% of US adults will be comfortable while sitting in an autonomous vehicle. Analysts like Cathie Wood of ARK Invest’s is of the view that Tesla will beat Google in the autonomous vehicle dominance. We identified a total of 76 holdings of autonomous vehicle during this month and after research and evaluation, we narrowed down our selection to 12 best stocks to buy during 2021. As per our research, the hedge fund data is used to highlight some minor stocks that can earn better as compared to S&P 500 index on annual basis. So, in this article you will get an idea of the Top 12 Autonomous Vehicle Stocks as shared by Insider Monkey.
Nvidia Corporation is amongst the best stock to buy during 2021. The US-based company is primarily engaged in manufacturing of high-powered and economical GPUs which has made gaming and supercomputing easy and accessible for everyone. Nvidia Corporation stocks are also rated as the best Top 5 Video Gaming Stocks and Top 10 Robotics and Artificial Intelligence Stocks. Several analysts including Wedgewood Partners are of the view that NVDA corporation will be able to double its revenue in the next 5 years. Another important company is Qualcomm, Inc. This company is providing various solutions for the autonomous vehicle industry. The company’s solutions include Bluetooth communication, automotive wireless solution, built-in Wi-Fi technology, strong and powerful 4G/5G technology, mapping, and global positioning. This company is also based in the US. Qualcomm, Inc. has been named as one of the 10 US companies with highest revenue exposure to China. So, this information does not end here. There is a list of more autonomous vehicle companies. Go to 12 Best Autonomous Vehicle to Buy for 2021 and keep reading about other companies.