Mobileye Spikes Up Amid News Of Apple Patent On Automotive Assistance Technology

Shares of Mobileye NV (NYSE: MBLY) spiked upwards Tuesday morning following news that Apple Inc. (NASDAQ: AAPL) had received a patent for an Advanced Auto Access and Control System.

“Apple's patent filing reveals that future iPhones will be able to open your car door, start your engine, shut off your engine for specific time frames, be able to program complete personalized car settings and much, much more,” according to Patently Apple.

Mobileye develops driver assistance systems and its shares appeared to benefit from the news that Apple may also enter the market.

Shares of Mobileye gave up some gains after spiking to $39.00 per share and recently traded at $38.20, up 0.9 percent.

Shares Apple recently traded at $118.53, down 0.08 percent.