$Uber(UBER)$’s second-quarter report on August 5 will arrive as autonomous ride-hailing moves from experimental pilots toward commercial service. The strategic question is whether Uber becomes the neutral marketplace connecting riders with many robotaxi fleets or whether vehicle developers eventually bypass it.
Uber’s first quarter, ended March 31 and reported May 6, showed strong platform momentum. Trips increased 20% year over year to 3.64 billion, monthly active consumers grew 17%, and gross bookings rose 25% to $53.72 billion. Revenue increased 14% to $13.20 billion, operating income rose 57% to $1.92 billion and free cash flow reached $2.29 billion.
For the second quarter, management forecast gross bookings of $56.25–$57.75 billion and non-GAAP earnings of $0.78–$0.82 per share. Uber’s first-quarter release provides the figures.
The bullish case is the network. Uber can connect riders, restaurants, couriers and drivers through one application, while its membership programme had reached 50 million users. Rather than bearing the entire cost of autonomous-vehicle development, Uber can supply demand and routing to multiple partners.
A March agreement with Amazon’s Zoox was one example: Zoox vehicles are expected to remain available through both the Zoox and Uber applications. Reuters’ March 11 report explains the partnership.
The bearish case is that successful autonomous fleets may keep their most profitable rides inside their own applications or demand better economics from Uber. Competitive pressure became more immediate on July 30, when Zoox received limited US approval to begin charging for rides in vehicles without traditional human controls. Reuters’ report on the federal approval describes the event and deployment limits.
Robotaxis may also introduce unfamiliar insurance, safety and regulatory costs. Uber’s capital-efficient partnership strategy reduces development spending, but it also means the company does not control every vehicle, technology stack or deployment schedule.
Uber closed at $70.36 on July 31 within a tight $69.57–$70.79 range.
UBER Weekly Chart
$Uber(UBER)$’s weekly chart is currently neutral to cautiously bullish, with price consolidating in a relatively tight range around $68–$77 after breaking down from the earlier rising channel. The most important near-term support sits around $68–$70, which has been tested repeatedly, while the rising 200-week moving average near $64.50 provides a stronger structural floor underneath; as long as UBER holds above that longer-term average, the broader uptrend is still intact.
On the upside, the first meaningful resistance is around $76–$78, followed by the much stronger $82–$87 supply zone, where the stock previously broke down and where sellers are likely to reappear.
A weekly close above $78 would improve momentum and could set up a retest of $82–$87, while a confirmed breakout above $87 would be a much stronger signal that the larger uptrend has resumed.
Conversely, a weekly close below $68, especially if followed by a loss of the 200-week average near $64–$65, would materially weaken the setup and could expose the low-$60s. Do take note that there is no meaningful support range at the low $60s, so if the price reaches that level, the stock could turn bearish for a longer period of time.
At the moment, UBER looks more like a range and support-retest trade than a clean breakout trade, so I would avoid chasing direction until either $78 is reclaimed or $68 fails after post earnings.
The evidence leans moderately bullish because trips, bookings, operating income and cash flow are growing together, while the partner model limits direct capital needs. The view would be invalidated by weakening bookings, reduced operating leverage or evidence that autonomous fleets are bypassing Uber rather than expanding its marketplace. This is personal opinion for education and is not financial advice.
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