Monday, December 23, 2024

Tesla Or Google? Who Will Steer The Future Of Self-Driving?

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In the autonomous vehicle battle, Tesla Inc TSLA and Alphabet Inc‘s GOOGL GOOG Google’s Waymo are squaring off to dominate the roads, but each is taking a radically different path.

Tesla’s Elon Musk aims to revolutionize driving with the company’s Full Self-Driving (FSD) tech, while Google’s Waymo is focused on perfecting fully autonomous vehicles.

As the self-drive race heats up, who’s really in the driver’s seat?

Tesla: Data Is King, But Sentiment Is Mixed

Despite its flashy robotaxi event underwhelming Wall Street, Tesla has a strong advocate in Anthony Levandowski, co-founder of Google’s own self-driving program, now Waymo.

Levandowski points to one key factor: data. According to Business Insider, Tesla’s fleet constantly gathers driving data from millions of vehicles, giving it a massive advantage.

It’s not just about software, but having the most real-world data to refine that software.

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Technically speaking, though, TSLA stock is hitting some bumps. With its stock down 11.90% year-to-date and trading below key moving averages like the five-day, 20-day and 50-day, signals are bearish.

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TSLA stock’s current price of $218.85 against its eight-day SMA of $219.41 suggests selling pressure, and a MACD indicator at a negative 3.92 flags more downside.

On the bright side, the 200-day moving average at $201.40 gives bulls some hope for a rebound, but overall sentiment leans negative.

Read Also: Elon Musk Says Tesla Will Not Buy EV Rival Rivian: ‘Going To Have A Hard Time’

Google’s Waymo: Quiet, But Formidable

Waymo, Google’s self-driving division, has been pushing forward with full autonomy. Levandowski may prefer Tesla’s data advantage, but Waymo remains one of the most advanced in terms of testing fully driverless cars.

For Alphabet, self-driving cars are an intriguing side bet with long-term growth potential. If successful, it could become a key driver alongside Google’s core tech empire.

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On the charts, GOOGL stock is experiencing bullish pressure, with its stock price of $164.07 trading above the eight-day and 50-day SMAs.

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The RSI at 52.23 is Neutral, but MACD remains in positive territory at 0.58, suggesting a potential upside. With an 18.8% year-to-date gain, GOOGL stock’s broader portfolio strength remains intact, even if Waymo’s road to commercialization is still bumpy.

The Verdict?

While Tesla’s data dominance could accelerate its progress in the self-drive race, Google’s methodical, tech-driven approach ensures it remains a formidable player.

Investors betting on the future of autonomous driving will need to pick their team—will it be Tesla’s data-driven revolution or Google’s cautious, calculated moves with Waymo?

Read Next:

  • Goldman Sachs Predicts Bleak Long-Term S&P 500 Returns As Market Concentration Hits ‘Highest Level In 100 Years’

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