Morgan Stanley cuts Waymo valuation for driverless car delay

Morgan Stanley analysts slashed the valuation of Alphabet's self-driving unit Waymo by 40% to $105 billion from $175 billion last year. They cited delay in the commercial rollout of autonomous ride-sharing services and lower profitability due to extended use of safety drivers in autonomous vehicles for the cut. They also gave "slower development of autonomous logistics services" as a reason.