Waymo's Autonomous Taxi Crashes in Los Angeles
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1d ago
0mins
Source: Benzinga
- Incident Details: Waymo's 'Ojai' autonomous taxi crashed into multiple parked cars in Los Angeles' Echo Park area while being driven by a human, highlighting potential risks in real-world applications of autonomous technology despite the driver being unharmed.
- Surveillance Footage: Video footage reveals the Waymo vehicle veering off the road near Dodger Stadium before returning to hit parked cars, underscoring the challenges faced by autonomous driving systems in complex environments.
- Historical Issues: Waymo's operations in San Francisco have previously been disrupted by multiple incidents, including a power outage from PG&E Corp, indicating adaptability challenges of its technology in different urban settings.
- Market Outlook: Despite these challenges, Waymo is seeking over $10 billion in funding at a $100 billion valuation, with a global Robotaxi fleet exceeding 2,500 vehicles, reinforcing its leadership position in the autonomous taxi market.
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Analyst Views on GOOGL
Wall Street analysts forecast GOOGL stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for GOOGL is 338.25 USD with a low forecast of 279.00 USD and a high forecast of 390.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
34 Analyst Rating
27 Buy
7 Hold
0 Sell
Strong Buy
Current: 336.010
Low
279.00
Averages
338.25
High
390.00
Current: 336.010
Low
279.00
Averages
338.25
High
390.00
About GOOGL
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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