Magna International, Inc. (MGA) Social Stream
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$MGA is one of this portfolio manager's top picks:dfree810, published November 30, 2020
“I think Magna (NYSE: $MGA ) is very interesting. Magna is an auto parts company. It really has a very broad range of products it produces from structures to seating systems to powertrain.
They also assemble vehicles for OEMs — original equipment manufacturers. So for example, they assemble low-volume vehicles for BMW (ETR: $BMWYY), Mercedes, Jaguar, Toyota (NYSE: $TM). But what makes them interesting, though, is they’re not an OEM.
And so in the auto industry right now, you have these new companies coming along, and we don’t know about a lot of them.
But companies, such as Apple (NASDAQ: $AAPL), are looking at building electric cars, and they’ve got all this secretive work going on.
You have some like Fisker (NYSE: $FSR) that’s about to launch an SUV, so you have ..."