Alphabet Lacks Tesla’s Buzz in Race for Driverless Rides
June 24, 2025
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3:21Now PlayingAlphabet Lacks Tesla’s Buzz in Race for Driverless Rides
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as posted by the channelThere’s a lot of investor excitement about driverless cars, yet Alphabet Inc.’s shares reflect little of that euphoria — even as its Waymo robotaxis proliferate in major US cities.
Waymo says its vehicles have driven more than 71 million miles without a human operator as the ride-hailing service expands across the country, but Alphabet shares have lacked the kind of buzz benefiting Tesla Inc. — whose stock jumped 8.2% on Monday after rolling out a rival product in Austin over the weekend, with just a handful of vehicles and some hiccups.
Alphabet has long traded at a significant discount to Big Tech peers because of its reliance on digital advertising for the bulk of its revenue. However, at a little over 16 times estimated profits, its valuation is a fraction of Tesla’s at 150 times, a multiple based heavily on expectations for a service that investors had been waiting years for.
“People are underestimating Waymo in a pretty significant way, while overestimating Tesla,” said Samuel Rines, macro strategist at WisdomTree. Alphabet’s valuation “assigns basically zero value to Waymo even though it has the best tech, it is already operating, and it has deals with OEMs,” referring to original equipment manufacturers.
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