Alphabet Is the Robotaxi Stock to Buy as Waymo Chases 1 Million Rides a Week

Since last December, Waymo has said it's on a path to giving 1 million fully autonomous rides a week by the end of 2026.

And I think that's exactly what makes the Google parent a better way to own the robotaxi build-out now than Tesla (TSLA +2.05%) or Uber (UBER +1.81%).

In early February, when it announced a $16 billion funding round, Waymo said it was giving over 400,000 rides each week.

Waymo's price tag: about 3% of Alphabet Investors in Waymo's February round valued it at $126 billion once the new money came in.

Waymo is already giving hundreds of thousands of rides a week, its losses are easily covered, and Alphabet shareholders aren't paying much of a premium for it.