"Shares of Rivian Automotive Inc. ( NASDAQ: RIVN) are changing hands for 5.0% more than a week ago, far outperforming the Nasdaq. Analysts anticipate strong demand for the EV maker's R2 SUV after its coming launch. And Rivian has confirmed the upcoming integration of Apple CarKey support, which will allow owners to use iPhones and Apple Watches as keys for their vehicles. The share price is still 1.8% lower than a year ago."
"Shares of EV manufacturer Rivian have been on a rollercoaster this year, surging and then falling after its first-quarter report. They have recovered somewhat since the second-quarter report. In the latest results, revenue was up slightly year over year and sequentially to $1.3 billion. However, the company also posted a wider-than-expected loss and widened its full-year loss projection due to tariffs and the loss of EV tax credits."
Rivian shares rose 5.0% over a week, outperforming the Nasdaq while remaining 1.8% below last year. Analysts expect strong demand for the upcoming R2 SUV, and Apple CarKey integration will enable iPhone and Apple Watch vehicle access. Second-quarter revenue reached $1.3 billion, alongside consecutive quarters of positive gross profit and a solid cash position. The company reported a wider-than-expected loss, widened full-year loss guidance because of tariffs and lost EV tax credits, and forecasted lower deliveries for 2025 than 2024. The stock is 32.5% above its April low amid cost efficiencies and strategic partnerships, and some analysts lowered price targets.
Read at 24/7 Wall St.
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