UBER is being irrationally undervalued

I believe the market is being overly pessimistic about UBER right now. A lot of the bearish sentiment seems to be driven by the narrative that autonomous driving will wipe out the ride-hailing industry. To me, this feels like what happened with Google earlier this year when people thought AI would kill its search business. That fear turned out to be premature, and the stock bounced back quickly once reality set in. In UBER’s case, the idea that robotaxis will fully replace human drivers in the short term is just not realistic. The technology still faces significant regulatory and safety hurdles, and mass adoption probably takes five to ten years. Meanwhile, UBER continues to benefit from a global network, dominant market share, and growing verticals like Eats and advertising. Its partnerships with AV companies like Waymo also show it is positioning itself for the long term. I recently spent some time abroad and used UBER in several countries. In every case, it was the most affordable and convenient option available. That kind of reach and user experience is not easy to replicate, and it’s part of why I see the stock as undervalued today.