Page 4 - Cerence Co News Today : Breaking News, Live Updates & Top Stories | Vimarsana

by Wedbush
Based on recent momentum in the field and more design wins during the December quarter, we have an increased confidence in the CRNC story and its automotive opportunity. We believe the company is in a strong position to further penetrate original equipment manufacturers heading into 2021. Cerence is a leader in automotive speech, as the company has built significant market share of 80%-plus with over 1,000 patents and is installed in over 300 million vehicles. While in the near term the company’s fundamentals could be negatively impacted, given Covid-19 headwinds and a softer macro, we believe the stage is set for Cerence to experience a strong recovery into year-end, with clear momentum into 2021 as auto sales rebound and new design wins are launched. ....

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