Josh Brown Bets Big on Uber as Robotaxi Leader

 

New York — Ritholtz Wealth Management CEO Josh Brown has revealed Uber (NYSE: UBER) as his largest personal holding, betting heavily on the ride-hailing giant's position in the autonomous vehicle revolution. In a CNBC interview, Brown emphasized Uber's strategic advantage in the robotaxi market, distinguishing it from competitors like Tesla.

Brown's confidence stems from Uber's recent expansion of robotaxi services to Atlanta – a move he calls "super important." He argues autonomous technology eliminates "the most expensive part of the experience" – human drivers – dramatically reducing costs for both consumers and the company. This positions Uber to benefit from any successful self-driving technology, whether developed by Tesla, Waymo, or other manufacturers.

Uber's financial strength reinforces Brown's thesis. The company reported Q1 earnings of $0.83 per share, surpassing analyst expectations. With approximately a dozen existing autonomous vehicle partnerships, including a recent Level 4 self-driving collaboration with Wayve in London, Uber is actively building infrastructure for driverless dominance. Bank of America analyst Justin Post reiterated his $97 price target (8% upside), citing these strategic moves.

Wall Street largely shares Brown's optimism, maintaining a "Strong Buy" consensus rating with price targets reaching $115 – suggesting over 25% growth potential. Brown confirmed he won't sell even if shares surpass $100, viewing Uber as a long-term play in the $1.2 trillion mobility market.

Uber's pivot to autonomy could transform its business model, turning ride-hailing into a highly profitable platform agnostic to self-driving technology winners.

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