Apple Self-Driving EV Said To Be Years Away

On Friday morning, Craig-Hallum analyst Richard Shannon said Velodyne Lidar's negative preannouncement and withdrawn 2021 sales guidance due to COVID impacts "are a bit frustrating, and will probably let a bit of air out of the LiDAR space that has been so hot the past couple of months." However, Velodyne announced that it added a new contract during Q4 and increased its project engagements from 175 to 183, "showing progress in the funnel," added the analyst. Shannon expects the news to take "some air out of the stock" but remains "very constructive" on Velodyne's medium and long-term outlook. Shannon is a buyer in the short-term "on any over-reaction" and still believes the stock should be owned by any long-term growth investors. He maintains a Buy rating on Velodyne Lidar with a $31 price target.

FORCE LABOR USE REPORT

Chinese solar companies including GCL-Poly, East Hope Group, Daqo New Energy (DQ), Xinte Energy and Jinko Solar (JKS) are named in a report by the consultancy Horizon Advisory about Xinjiang's rising solar energy technology sector being connected to a broad program of assigned labor in China, "including methods that fit well-documented patterns of forced labor," according to The New York Times' Ana Swanson and Christopher Buckley.

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