11:48 AM EST, 03/02/2026 (MT Newswires) -- Uber Technologies ( UBER ) shows that building blocks are in place for the company to be "one of, if not the dominant" global tech agnostic autonomous vehicle mobility networks, RBC Capital Markets said in a Monday note.

Following its meetings with Uber's ( UBER ) AV team and AV partners WeRide and Baidu's ( BIDU ) Apollo Go, RBC said it now has higher conviction that AV's are driving an inflection in shared mobility's total addressable market over time as further cost reductions play out.

Commentary from WeRide and Apollo Go further indicated that Alphabet's (GOOG, GOOGL) Waymo is at a "potential structural cost disadvantage" with Waymo taking on a more "robust technological approach" in the car versus what it has deployed, RBC said.

Waymo's cost should decrease, however, the implication is that its slope might be less steep compared to others, RBC added.

RBC does not see any near-term indications of Uber ( UBER ) expanding into new markets with Waymo and said it believes any further expansion will rely on Waymo's recognition of better utilization through third-part channels.

The firm maintained its outperform rating on Uber ( UBER ) with a $105 price target.

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