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Mobileye (MBLY) is not operating in an easy auto-tech environment right now. Electric-vehicle and autonomous-driving names are still being traded on future growth hopes, but concerns about consumer demand, heavy spending, and valuation pressure have kept the group volatile. Now, Mobileye has added a fresh catalyst.
On April 23, the company announced a board-approved plan to repurchase up to $250 million of its Class A shares. The move came alongside strong first-quarter results and a raised full-year outlook. That has left investors with a familiar question. Does the buyback make Mobileye more attractive, or is the stock still too expensive to chase?
