3 Monster Driverless Car Stocks to Buy and Hold for Potentially Lucrative Returns

Driverless cars are the hot new thing among many automotive investors and analysts, and the potentially lucrative future is tantalizing. According to an autonomous vehicle market forecast from Next Move Strategy Consulting, the global driverless vehicle market was roughly $106 billion in 2021, but is expected to grow to over $2.3 trillion by the end of the decade. The question for investors is: How do we invest in this future? This is a good place to scratch the surface with three driverless vehicle stocks that could end up becoming monsters long-term.Nvidia (NASDAQ: NVDA) is pretty close to a household name, at least within the investing community that's well aware of its eye-popping gains over the past decade. The company enjoys durable competitive advantages, or an economic moat, thanks to its leadership in graphics processing units (GPUs), hardware, software, and networking tools -- all of which revolve around the artificial intelligence (AI) world.While Nvidia will be certainly tied to the AI industry long-term, investors have high hopes for the company's automotive business as greater processing power will be absolutely needed in more complex active safety systems, as well as driverless vehicles. According to Morningstar, Nvidia's automotive business is expected to grow at a 20% compound annual growth rate over the next decade to reach nearly $11 billion in fiscal 2035. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool