What are the best robotaxi stocks right now?
Seeking Alpha analyst Jonathan Weber gave us his picks.
Jonathan Weber: Among stocks with robotaxi exposure, I like Alphabet (NASDAQ:GOOGL) (NASDAQ:GOOG) and Baidu (NASDAQ:BIDU) the best.
Alphabet’s (NASDAQ:GOOGL) (NASDAQ:GOOG) Waymo seems to be in the pole position in the United States and has a strong business with massive cash flows behind it, which should allow it to scale easily as the technology progresses. Baidu (NASDAQ:BIDU) is highly profitable as well, trades at a very undemanding valuation, and its robotaxi service, Apollo Go, is doing well in its home market of China.
While Tesla (NASDAQ:TSLA) is getting a lot of attention for its robotaxi efforts, it seems to be behind Alphabet’s (GOOG) Waymo. The planned rollout of robotaxis in Texas this summer could give the stock a near-term boost, but I do not believe that this will be a major source of revenues or profits in the foreseeable future.
Baidu (BIDU) wants to roll out Apollo Go in Europe in the near term, which would soften its dependence on the Chinese market — nevertheless, an investment in Baidu (BIDU) means some “China risk” so it’s not for everyone.
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