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Uber (UBER) Partners with Amazon’s Zoox for Autonomous Ride Expansion
Yahoo Finance· 2026-03-17 12:42
Group 1 - Uber Technologies, Inc. is currently considered one of the best FAANG+ stocks to invest in, with a Buy rating and a price target of $103 from BofA Securities following its partnership with Zoox, Amazon's autonomous vehicle division [1] - The deployment of Zoox's autonomous vehicles is expected in Las Vegas in the summer of 2026 and in Los Angeles by mid-2027 [1] - BofA anticipates that Zoox will cover insurance and fleet costs, with rider pricing expected to be comparable to or higher than UberX prices due to the premium nature of the autonomous-vehicle experience [2] Group 2 - BofA expects Uber's take rate on Zoox journeys to be lower than that of UberX, reflecting a shift in Uber's pricing model that reduces its insurance burden [2] - The contribution of Zoox is expected to have minimal impact on Uber's total take rates and profitability through the end of 2027 [3] - Uber is recognized as a leading global provider of ride-hailing, food delivery, and freight services, having transformed urban transportation through its mobile app [3]