Alphabet Inc. shares fell 0.8% in pre-market trading on Wednesday after a research note from TD Cowen highlighted the potential of Alphabet’s autonomous driving subsidiary, Waymo.
Waymo’s Financial Projections
- TD Cowen estimated that Waymo will reach $6.1 billion in U.S. gross bookings by 2034, representing a 44% annual growth over the next decade.
- Currently valued at around $10 billion, analysts believe Waymo’s worth could significantly increase due to its rapid growth and adoption rates.
"We believe that Waymo is on track to become one of the largest players in the autonomous driving market within just over a decade," stated TD Cowen.
Factors Influencing Alphabet’s Valuation
Investors should consider multiple factors when evaluating Alphabet’s overall valuation, including:
- Other assets such as DeepMind/GenAI businesses
- The Google Cloud unit
- Waymo’s growth prospects
Waymo’s Recent Developments
Waymo has made significant strides in recent years:
- Its self-driving cars are being tested on public roads across several states, including Arizona, California, Texas, and New York City for taxi service testing under a permit from the New York State Department of Motor Vehicles (DMV).
- The company has partnered with major automakers such as:
- General Motors Co.
- Honda Motor Co.
- Jaguar Land Rover Ltd.
- Nissan Motor Co.
- Renault SA
- Volkswagen AG
These partnerships aim to integrate Waymo’s technology into vehicles for ride-hailing services or consumer sales, starting later this year or early next year.
Challenges Ahead
Despite the progress towards commercialization, many experts remain skeptical about the speed of widespread adoption due to:
- Regulatory hurdles
- Safety concerns
These factors could potentially slow down development if not addressed with proper oversight and regulation.
Related News
In related news, a report indicated that Uber Technologies Inc.‘s self-driving car unit may sell up to $2 billion worth of stock at an implied valuation between $15 billion and $20 billion. However, no official announcement has been made by Uber regarding this potential sale, and the deal is not finalized yet.
Stay tuned for further updates on these developments!
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