5 Best Self-Driving Car Stocks To Invest In

2. Alphabet Inc. (NASDAQ:GOOG)

No of Hedge Fund Holders: 204

Alphabet Inc. (NASDAQ:GOOG) has been venturing into the autonomous vehicle space through its subsidiary Waymo. The company’s self-driving project has made significant progress in its pursuit of launching a commercial ride service in Los Angeles. In February, it was revealed that Waymo is removing human safety drivers from its robotaxi test fleet and is going completely driverless.

Vulcan Value Partners shared its stance on Alphabet Inc. (NASDAQ:GOOG) in its Q1 2023 investor letter. Here’s what the firm said:

“Additionally, Skyworks Solutions, Amazon, Alphabet Inc. (NASDAQ:GOOG), KKR & Co., and TransDigm Group were all material contributors during the quarter. We have discussed these companies at length in prior letters. Alphabet reported mixed results in a tough environment. The company is working to adjust its cost structure in light of the current macroeconomic environment. All of these companies are executing well, their theses are intact, and we are pleased to own them at a discount to our estimate of intrinsic value.”