5 Best Self-Driving Car Stocks To Invest In

1. Amazon.com, Inc. (NASDAQ:AMZN)

No of Hedge Fund Holders: 243

Amazon.com, Inc. (NASDAQ:AMZN) has been working on developing an autonomous vehicle through its self-driving unit, Zoox. In February, Zoox revealed that the company has successfully tested its robotaxi technology on public roads. The Amazon.com, Inc. (NASDAQ:AMZN) subsidiary holds the distinction of being the only purpose-built robotaxi with permission to run on public roads in California.

Here’s what Vulcan Value Partners said about Amazon.com, Inc. (NASDAQ:AMZN) in its Q1 2023 investor letter:

“Additionally, Skyworks Solutions, Amazon.com, Inc. (NASDAQ:AMZN), and TransDigm Group were all material contributors during the quarter. We have discussed these companies at length in prior letters. Despite slowing growth and macro headwinds, Amazon experienced revenue growth in all three segments: AWS, Advertising, and Retail. Amazon is also addressing its cost structure to better align with its slower growth rates. We believe Amazon is a dominant, world-class company with powerful secular tailwinds. All three 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.”

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