This FANG Stock Could Benefit from Tesla’s Pain in Autonomous Car Wars
Alphabet, which is the parent company of Google, could get a boost from Waymo, the search giant’s autonomous vehicle subsidiary. | Source: Shutterstock
By CCN: Now that the battery on Tesla’s stock is running on empty, investors might want to consider other options. Alphabet (GOOGL), which is the parent company of Google, could get a boost from Waymo, the search giant’s autonomous vehicle subsidiary. On CNBC’s Fast Money, Guy Adami gave the bullish case for Alphabet’s stock, saying:
“Tesla’s woes, Waymo’s gains. Tesla’s in the autonomous industry. You know what? Maybe they’re not as close as we think.”
To audible laughter in the studio background, Adami punned:
“Maybe Waymo is way-mo–closer than everyone else. I think people are underestimating the value of Waymo. Don’t sleep on Waymo.”
He went on to predict that GOOGL stock could trade as high as $1,300 and higher compared to its current level of $1,146. This is considering that “Google gets its act together” in the next quarterly earnings report, which Adami fully expects it will.
— CNBC’s Fast Money (@CNBCFastMoney) May 23, 2019
Waymo Doesn’t Mind Being Boring
Autonomous vehicles represent a technology that’s vitally important to human safety.
Waymo expects a more measured approach vs.