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Morgan Stanley resets Alphabet stock forecast on Waymo growth [Yahoo! Finance]
Last alphabet inc. - class c capital stock earnings: 4/28 04:02 pm
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US:NASDAQ Investor Relations: abc.xyz/investor
CEO Sundar Pichai has repeatedly pointed to autonomous driving as one of the company's key areas of progress in artificial intelligence and a driver of future value. He told investors on the February earnings call that Waymo is "now providing more than 400,000 rides every week" and "continues to expand its service territory." "The team has made incredible progress on important capabilities, including opening up public service to airports and freeways," Pichai told investors. Morgan Stanley is similarly bullish on Waymo, and its analysts just revealed a new message regarding its competition with Uber. Here's what Morgan Stanley is telling its clients, and what it means for Alphabet shareholders. Waymo's growth is accelerating faster than expected Morgan Stanley maintained its overweight rating on Alphabet shares and set a $330 price target, arguing the broader industry outlook remains attractive and that Waymo's latest data shows faster-than-expected scaling, according to a M
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