Is Waymo's Latest Announcement Bad News for Uber?
Competition is heating up for Uber as Waymo pulls back on its partnership cooperation, and investors should take note.
Overview
Uber Technologies (NYSE: UBER) is an intriguing stock for a number of reasons, including strong core business and user growth, strong adjusted earnings and cash flow, and significant value returned to shareholders through share buybacks.
Perhaps most intriguing is that it plans to avoid heavy capital investment to develop and manufacture self-driving vehicles by partnering with companies such as Waymo, which is owned by Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL), as well as with Baidu and Nvidia. But if Waymo's recent announcement is any indication, Uber's future might be competing against former self-driving car partners.
Details
In the latest development between Uber and Waymo, the latter is exploring options to exit its robotaxi partnership with the former. Currently, Uber offers rides in autonomous Waymo vehicles exclusively in Austin and Atlanta. Waymo gave Uber notice that it plans to launch its own service app in those two cities at the beginning of 2028.
Source
Originally published at www.fool.com.