Alphabet Inc. (GOOGL) in Focus as Waymo Miles Grow, Citizens Reiterates Market Outperform

Alphabet Inc. (NASDAQ:GOOGL) is one of  AI Stocks in the Spotlight for Investors. On December 17, Citizens analyst Andrew Boone reiterated a “Market Outperform” rating on the stock with a $340.00 price target. The rating affirmation follows Waymo’s third-quarter operational update.

The firm disclosed how Waymo, Alphabet’s autonomous driving subsidiary, reported its cumulative rider-only miles increased by 28 million in the third quarter of 2025, a 24% quarter-over-quarter growth.

The subsidiary’s strongest market, Phoenix, added 10 million rider-only miles during the quarter. Meanwhile, San Francisco and Los Angeles contributed an estimated 9 million additional miles each.

Even though Waymo appears to be supply constrained, the firm is monitoring its slow but steady progress.

“While we believe Waymo continues to be supply constrained, with rider-only miles more dictated by the allocation of vehicle supply than demand, we continue to monitor progress in Waymo One markets. That said, Waymo’s growth continues to grind higher relatively slowly, rather than inflecting upward, given it is manufacturing constrained, which bodes well for Uber (UBER, MP).”

Alphabet Inc. (NASDAQ:GOOGL) is an American multinational technology conglomerate holding company wholly owning the internet giant Google, amongst other businesses.

While we acknowledge the potential of GOOGL as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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