Why Few Investors Were Excited About Alphabet Stock Today
Thursday was generally a good day for tech stocks, but you wouldn't infer that purely from 's (NASDAQ: GOOG) (NASDAQ: GOOGL) performance. Investors seemed concerned by the news that its self-driving technology unit is pulling back on efforts to develop an autonomous semi-truck.
While other top tech titles were enjoying a lift provided by Meta Platforms' strong quarterly results, both listed Alphabet stocks basically only traded flat on the day.
In an official company blog post authored by co-CEOs Tekedra Mawakana and Dmitri Dolgov, Alphabet's Waymo self-driving subsidiary announced an adjustment to its business strategy. The two executives wrote that their unit would focus on autonomous technology in the ride-hailing segment. In doing so, they added, they are to "push back the timeline" on Waymo's efforts to build a self-driving semi-truck.
Source Fool.com
Alphabet Inc. A Stock
With 83 Buy predictions and not a single Sell prediction Alphabet Inc. A is an absolute favorite of our community.
With a target price of 165 € there is a slightly positive potential of 2.31% for Alphabet Inc. A compared to the current price of 161.28 €.
