Search
EN Down
Language
Hi, user_no_name
Live Chat

Bank of America has named stocks to watch as tech companies enter the electric vehicle race

Whilst Tesla, Nio and XPeng are synonymous with the EV race, there are a number of other companies that investors should have on their watch list as the industry grows. EVs may only account for about 2% of global auto sales today but they could be worth around half by 2040, according to Goldman Sachs estimates.

BofA Head of European Automotive Research Horst Schneider pointed to chipmakers Nvidia, Qualcomm, Infineon, Intel, and STMicroelectronics as companies likely to benefit from the shift to EV. In terms of vehicle manufacturers, Schneider has a buy rating on Daimler and Stellantis.

Nvidia

Nvidia is an EV stock to watch.

Analysts still rate this stock a strong buy with an average upside of 23%.

Qualcomm

According to analysts, Qualcomm is a stock to watch.

Analysts’ consensus remains a buy with a 27% average upside.

Nio

Nio is another strong EV stock buy.

Another strong buy with 56% upside, according to our tool.

Get more analyst insights. Open your account today.

Latest news

Tesla shares poised for 6th straight loss as Cybertruck recalls begin

Friday, 19 April 2024

Indices

Tesla shares drop again as Cybertruck recalls begin

Citi issues new gold price forecast, sees yellow metal at $3000 by year-end

Friday, 19 April 2024

Indices

Citi updates gold price forecast to $3,000 by year-end

Magnificent Seven earnings take centre stage in the markets this week

Friday, 19 April 2024

Indices

Week ahead: Wall Street’s Magnificent Seven earnings are up

Oil and gold prices rallied as Israel launched a retaliatory strike on Iran

Thursday, 18 April 2024

Indices

Oil, gold price rallies on Iran blasts as Israel retaliates

Live Chat