Alphabet (GOOGL): Does Its Valuation Account for Waymo’s Potential?

Alphabet Inc. (NASDAQ:GOOGL) can finance Waymo from a much larger advertising and cloud business. That gives it room to build autonomous transportation, but the investment is not free. The question is whether growing profits can absorb heavy infrastructure spending while Waymo works toward a lasting business model. At roughly 23 times forward earnings, the existing […]