You're sacrificing near-term profit to build the technology that might matter in five years.
Uber is placing two large wagers simultaneously — one on the enduring human appetite for delivered goods, the other on a future where machines do the driving. By deepening its stake in Delivery Hero and committing nearly $10 billion to autonomous vehicle technology, the company is betting that scale and patience will eventually reconcile a balance sheet under pressure. The market, for now, is neither convinced nor dismissive, holding the stock in a kind of suspended judgment as the costs of ambition accumulate.
- Uber spent $13.6 million to raise its Delivery Hero stake to roughly 7%, anchoring itself more firmly in a global delivery network spanning 65 countries — a hedge against uncertainty in its core ride business.
- A $10 billion robotaxi commitment signals transformational intent, but R&D costs already climbed 9% to $3.4 billion in 2025, and the spending is expected to keep rising with no near-term relief.
- The stock is caught in a technical no-man's-land — above short-term momentum signals but below longer-term averages, with resistance at $78.50 capping recent rallies and support at $68.50 holding the floor.
- May 6 earnings will force a reckoning: revenue is forecast to grow to $13.28 billion, but earnings per share are expected to fall 14% year-over-year, exposing the widening gap between growth and profitability.
- Analysts maintain a Buy rating with a $106.52 average price target, yet Wells Fargo's recent cut to $95 suggests even optimists are quietly trimming their confidence in Uber's dual-track strategy.
Uber is pressing forward on two fronts at once. On Friday, the company acquired an additional 13.6 million shares of Delivery Hero from Prosus, lifting its total stake in the German delivery platform to roughly 7%. Delivery Hero operates across 65 countries, built around food and rapid grocery delivery — household goods in under an hour. CEO Niklas Östberg welcomed the move as a meaningful endorsement of the platform's direction. For Uber, it functions as a hedge: a foothold in the delivery economy while the company pursues far more expensive ambitions elsewhere.
Those ambitions center on autonomous vehicles. Uber is committing nearly $10 billion to robotaxi development — $2.5 billion in direct equity investments and $7.5 billion to scale the fleet. The logic is that self-driving technology will eventually transform urban transportation and, with it, Uber's own cost structure. But the present reality is less elegant: R&D spending rose 9% last year to $3.4 billion, and the company expects that figure to keep climbing. The promise of future efficiency is, for now, a present drain.
Markets are watching with cautious ambivalence. Uber shares were up 1.16% in premarket trading Friday at $77.37, but the stock has gained only 1.65% over the past year — a modest return for a company making billion-dollar bets. Technically, shares sit above their 20-day moving average but below the 100-day, caught between short-term momentum and longer-term skepticism. Resistance at $78.50 has repeatedly capped rallies; support at $68.50 has held the floor.
The May 6 earnings report will sharpen the question. Revenue is forecast at $13.28 billion, up from $11.53 billion a year ago — healthy growth. But earnings per share are expected to fall to 71 cents from 83 cents, a 14% decline. The company is expanding its top line while the bottom line contracts, a trade-off that demands investor faith in the long game. Analysts broadly offer that faith, with a consensus Buy rating and a $106.52 price target — though Wells Fargo's recent cut to $95 is a reminder that even the optimists are hedging. The deeper question is whether a robotaxi moonshot and a global delivery stake constitute a coherent vision, or simply two large gambles running in parallel.
Uber is doubling down on two bets at once: deepening its grip on a global delivery network while pouring nearly $10 billion into self-driving cars. On Friday, the company bought an additional 13.6 million shares of Delivery Hero from Prosus, pushing its total stake in the German delivery platform to roughly 7%. The move signals confidence in a company that operates across 65 countries and has built a business around food delivery and rapid grocery service—getting household goods to customers in under an hour.
Delivery Hero's CEO Niklas Östberg called the investment a "meaningful endorsement" of the platform's long-term direction. For Uber, the stake represents a hedge on the delivery economy itself, a business that has proven resilient even as the company chases bigger technological ambitions elsewhere.
Those ambitions are expensive. Uber is committing nearly $10 billion to autonomous vehicles, with $2.5 billion going directly into equity investments and $7.5 billion earmarked to scale the robotaxi fleet. The company is betting that self-driving technology will eventually reshape urban transportation and, by extension, its own economics. But the path there is strewn with costs. Research and development spending climbed 9% last year to $3.4 billion, and the company expects that figure to keep rising. AI development, it turns out, is as much a drain on the balance sheet as it is a promise of future efficiency.
The stock market has noticed the tension. Uber shares were trading at $77.37 in premarket action on Friday, up 1.16%, but the broader picture is more complicated. Over the past year, the stock has gained just 1.65%, suggesting the market is still deciding whether to believe in the robotaxi story or to worry about the mounting costs. The stock sits in the middle of its 52-week range—$68.46 to $101.99—caught between recovery and resistance.
Technically, the setup is precarious. Shares are 6.5% above their 20-day moving average, a sign of short-term momentum, but they remain 1.5% below the 100-day average, indicating lingering skepticism about whether the current rebound can hold. Key resistance sits at $78.50, where recent rallies have stalled. Support is at $68.50, where buyers have historically stepped in.
Earnings will test the narrative on May 6. Analysts expect revenue of $13.28 billion, up from $11.53 billion a year ago—solid growth. But earnings per share are forecast to fall to 71 cents from 83 cents, a 14% decline. The company is growing the top line while the bottom line contracts, a dynamic that works only if investors believe the investments today will pay off tomorrow. Analysts, on balance, do: the stock carries a Buy rating with an average price target of $106.52. But Wells Fargo recently lowered its target to $95, a signal that even the bulls are hedging their bets. The question now is whether Uber can convince the market that a $10 billion robotaxi bet and a deeper stake in global delivery add up to a coherent strategy, or whether they represent two separate gambles on a company trying to be everywhere at once.
Citas Notables
Uber's increased investment is a meaningful endorsement of the company's platform and long-term strategy— Niklas Östberg, Delivery Hero CEO
La Conversación del Hearth Otra perspectiva de la historia
Why does Uber need to own 7% of Delivery Hero when it already has its own delivery business?
Because Delivery Hero operates in 65 countries and has built something Uber doesn't fully control—a platform for quick commerce, not just food. Owning a stake gives Uber exposure to that growth without having to build it from scratch.
But the company is spending $10 billion on robotaxis. Isn't that the real priority?
It is. But delivery is the cash cow today. Robotaxis are a bet on the future. You hedge your bets by owning pieces of multiple futures.
The earnings forecast shows revenue up but profit down. How does that work?
R&D spending is climbing—$3.4 billion last year and rising. That's the cost of building autonomous vehicles and AI systems. You're sacrificing near-term profit to build the technology that might matter in five years.
Is the market buying that argument?
Partially. The stock is up over the year, but barely—1.65%. Analysts say Buy, but some are lowering targets. There's skepticism about whether these investments will actually pay off.
What happens on May 6?
Earnings. If the company can show that revenue growth is accelerating and that R&D spending is translating into real progress on robotaxis, the stock could break through resistance. If not, the market might start asking whether Uber is spreading itself too thin.
And the Delivery Hero stake—is that a distraction or a smart move?
It's a signal of confidence in the delivery economy itself. Uber is saying: we believe in this business long-term, and we're willing to own a piece of someone else's version of it. That's not distraction. That's diversification.