Alphabet Stock Continues to Rise on Urban Mobility Innovation

In a landmark move that brings to fruition its dream of bringing driverless mobility to one of the world’s most challenging urban landscapes, Waymo, the autonomous vehicle subsidiary of Alphabet Inc. GOOGL, has received its first-ever permit to test self-driving cars on the streets of New York City. The approval, granted by the city’s Department of Transportation on Aug. 22, 2025, marks a historic milestone in the evolution of urban transportation. GOOGL, which is part of the Zacks Internet – Services industry, currently carries a Zacks #3 (Hold). The stock closed at $199.75 on Aug. 21. In the week since, it has grown 6% as of Aug. 28.Under the pilot program, Waymo is permitted to deploy up to eight autonomous vehicles, specifically Jaguar I-Pace electric SUVs. These tests are in compliance with the city’s Taxi and Limousine Commission regulations. City officials emphasized that the approval stems from a newly established regulatory framework designed to support responsible innovation while ensuring street-level safety. Mayor Eric Adams highlighted New York’s commitment to technological progress, stating, “We’re a tech-friendly administration and we’re always looking for innovative ways to safely move our city forward. This testing is only the first step in moving our city further into the 21st century.”Still, New York’s vehicular landscape poses significant challenges. Observers point to the city’s dense traffic, complicated street grids, congested bridges and extreme winter weather, factors that make it among the toughest platforms for autonomous technology. There are also concerns regarding infrastructure readiness, such as charging stations, vehicle upkeep and coordination with local responders, as well as the potential economic impact on the city’s traditional taxi workforce.This testing phase follows prior efforts by Waymo to familiarize itself with New York’s streets, notably its 2021 manual data-gathering operations in the city. But now, Waymo’s entry into NYC represents a tangible step toward one day offering commercial autonomous rides to its 8.5 million residents.Amazon.com, Inc. AMZN subsidiary Zoox and Tesla, Inc. TSLA are Waymo’s competitors from the same space. AMZN currently has a Zacks #3 (Hold) and TSLA carries a #4 (Sell). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Zacks Names #1 Semiconductor StockThis under-the-radar company specializes in semiconductor products that titans like NVIDIA don't build. It's uniquely positioned to take advantage of the next growth stage of this market. And it's just beginning to enter the spotlight, which is exactly where you want to be.With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $971 billion by 2028.See This Stock Now for Free >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Amazon.com, Inc. (AMZN): Free Stock Analysis Report Tesla, Inc. (TSLA): Free Stock Analysis Report Alphabet Inc. (GOOGL): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks