Mar. 2 at 9:52 PM
RBC reiterates Outperform Rating on
$UBER & keeps TP of
$105
Following its meetings w/ UBER's AV team & AV partners WeRide &
$BIDU Apollo Go, it now has higher conviction that AV's are driving an inflection in shared mobility's TAM over time as further cost reductions play out
Uber shows that building blocks are in place for the company to be "one of, if not the dominant" global tech agnostic autonomous vehicle mobility networks
Commentary from WeRide & Apollo Go indicated that
$GOOGL Waymo is at a "potential structural cost disadvantage" w/ Waymo taking on a more "robust tech approach" in the car vs what it has deployed
However, Waymo's cost should decrease - implication is that its slope might be less steep vs others
Waymo operates in 10 cities & serves 450K rides/wk & on track to serve over 1M rides/wk by YE26
Waymo has recorded over 200M autonomous miles driven by its self-driving system
$TSLA Cybercab being tested in Chicago
Jeffries: Teslas generally underperformed across KPIs vs Waymo
