Alphabet Rises 1.1% to $344.42 as Waymo Wins Las Vegas Robotaxi Permits

3 articles · Updated · Yahoo Finance UK · Aug 21

$344.42 marked a roughly 1.1% gain for Alphabet on Friday after Waymo secured permits tied to robotaxi operations in Las Vegas, adding another city to its autonomous-driving rollout.
Las Vegas expands Waymo's operating footprint against rivals including Tesla and Uber, giving it more rides, more driving data and more experience with local regulators as it pushes toward a scalable transport business.
Alphabet's core businesses still underpin that bet: second-quarter revenue rose 24% to $119.8 billion, while Cloud revenue jumped 82% to $24.8 billion and backlog reached $514 billion.
At about 17 times trailing earnings, Alphabet trades below Apple's multiple, but its share price sits 36.2% above the $252.87 GF Value estimate, suggesting investors already price in strong AI, Cloud and Waymo growth.
Waymo remains the upside wildcard, while advertising and Cloud must keep funding heavy capital spending amid regulatory pressure and AI-driven disruption in search.