GM Is Restructuring Cruise. That Leaves Tesla and Waymo in U.S. Robotaxi Market.
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Dec 10 2024
0mins
Should l Buy GOOG?
Source: Barron's
GM Restructures Cruise: General Motors is exiting the robotaxi business by restructuring its self-driving taxi company, Cruise, and will focus on enhancing driver-assistance technologies instead. This decision follows increased competition in the market and a recent suspension of Cruise's operating license in California.
Investor Reaction and Future Plans: Investors reacted positively to GM's shift towards capital efficiency, leading to an increase in GM stock prices. Despite stepping back from robotaxis, GM remains committed to improving driving experiences and reducing accidents through better driver-assistance systems.
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Analyst Views on GOOG
Wall Street analysts forecast GOOG stock price to rise
15 Analyst Rating
14 Buy
1 Hold
0 Sell
Strong Buy
Current: 334.470
Low
255.00
Averages
336.08
High
400.00
Current: 334.470
Low
255.00
Averages
336.08
High
400.00
About GOOG
Alphabet Inc. is a holding company. The Company's segments include Google Services, Google Cloud, and Other Bets. The Google Services segment includes products and services such as ads, Android, Chrome, devices, Google Maps, Google Play, Search, and YouTube. The Google Cloud segment includes infrastructure and platform services, collaboration tools, and other services for enterprise customers. Its Other Bets segment is engaged in the sale of healthcare-related services and Internet services. Its Google Cloud provides enterprise-ready cloud services, including Google Cloud Platform and Google Workspace. Google Cloud Platform provides access to solutions such as artificial intelligence (AI) offerings, including its AI infrastructure, Vertex AI platform, and Gemini for Google Cloud; cybersecurity, and data and analytics. Google Workspace includes cloud-based communication and collaboration tools for enterprises, such as Calendar, Gmail, Docs, Drive, and Meet.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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