Uber: The Robotaxi Discount Has Truly Gone Too Far (Earnings Review)

Uber just posted another quarter of strong growth and margin expansion, yet the stock remains near bear-case valuation levels. However, investors are increasingly pricing Uber as a potential disruption victim, even as cash flow and profitability keep moving higher. With Waymo reshaping the narrative and Uber doubling down on execution, the key question is whether today's discount reflects real risk or a rare opportunity.