11 Best Self-Driving Car Stocks to Buy According to Analysts

5. Amazon.com, Inc. (NASDAQ:AMZN)

Analysts’ Upside Potential as of April 22: 34.93%

Amazon.com, Inc. (NASDAQ:AMZN) is much more than just a massive online retailer. The actual reason that makes the firm a very successful digital giant is Amazon Web Services, the pioneer of public cloud computing. As with other cloud platforms, Amazon Web Services includes a self-driving car segment that assists manufacturers and other vehicle innovators in managing their autonomous driving data. It is ranked fifth on our list of the Best Autonomous Driving Stocks.

In 2020, Amazon.com, Inc. (NASDAQ:AMZN) purchased the autonomous ride-hailing startup Zoox, which it now owns. Driverless taxis are anticipated to be introduced by Zoox in Las Vegas in 2025. Moreover, businesses like Tier IV, an autonomous driving start-up, use AWS (Amazon Web Services) to create driverless cars. The cloud-based infrastructure and computational power needed by Tier IV to run simulations and machine learning to assist its development processes are made possible by AWS.

The company runs a massive logistics and delivery company and is the world leader in e-commerce. Transportation automation may be a game-changer in the long run, making the retail division of the company much more profitable and efficient. Beyond robotaxis and other consumer-facing automotive technologies, Amazon.com, Inc. (NASDAQ:AMZN) clearly sees value in developing vehicle autonomy.

Harding Loevner Global Developed Markets Equity Strategy stated the following regarding Amazon.com, Inc. (NASDAQ:AMZN) in its Q4 2024 investor letter:

“During the quarter, we benefited from strong stocks within the Communication Services and Consumer Discretionary sectors. In Consumer Discretionary, Amazon.com, Inc. (NASDAQ:AMZN) reported strong third-quarter results. Revenue increased by double digits, led by growth in advertising and Al products, while the company’s operating margins also hit an all-time high of 11%. The key reasons for the higher margins were that its international e-commerce operations turned profitable, and there was faster growth in its high-margin cloud-computing business.”