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Lidar has extensive applications in the technology space, given its capabilities in augmented reality and virtual simulation. For example, the latest generation of iPhones manufactured by Apple, Inc. (NASDAQ:AAPL) has integrated Lidar sensors. Furthermore, the tech giant plans to venture into the automotive industry and launch self-driving cars in 2024.
The United States is actively investing in advancing its semiconductor industry to make it globally competitive. To this end, President Biden recently issued executive orders to facilitate federal capital investments into this space. Given this backdrop, the demand for domestically manufactured lidar sensors is expected to be high. Consequently, Wall Street analysts expect U.S.-based lidar stocks Luminar Technologies, Inc. (LAZR) and Ouster, Inc. (OUST) to gain more than 55% in the near term.
