Tech giant Alphabet’s (NASDAQ:GOOGL) robotaxi service, Waymo, has been authorized by the California Public Utilities Commission to expand its operations beyond San Francisco. Waymo has been operating its robotaxi service in San Francisco and Phoenix. Robotaxis are autonomous cars operated by a ride-sharing company.
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Due to this approval, Waymo can expand its robotaxi service into Los Angeles and the San Francisco Peninsula. This expansion was opposed by San Mateo County and Los Angeles officials who wanted more of a say in the local operations.
Waymo said in a post on X that the approval signaled the commission’s confidence in Waymo’s operations.
Is Google a Buy, Sell, or Hold?
Analysts remain bullish about GOOGL stock with a Strong Buy consensus rating based on 29 Buys and eight Holds. GOOGL has surged by more than 40% over the past year, and the average GOOGL price target of $164.59 implies an upside potential of 20% at current levels.
