UBER - Uber Technologies Inc.

Listed among the 10 stocks with potential for 15%+ annualized returns over the next 10 years based on Paul's assumptions.

Host is less excited about Uber's growth. Mobility revenue only grew 4.65% while delivery grew 34%. Growth is almost exclusively from delivery now. Competition from Lyft, Waymo, and Tesla in mobility. Host says he's 'off of Uber'.

Strong Q1 2026 with 3.6B trips (up 20%), $53.7B gross bookings, $2.3B free cash flow. Profit margin jumped from 6.5% to 15.9%. Trading at 18 times earnings with strong growth. Bill Ackman holds it as his #1 position. Intrinsic value middle estimate of $176 vs current $75 suggests significant upside.

Tepper tripled his Uber position, now 7% of his portfolio.

Tepper tripled his Uber position, now 7% of his portfolio, showing strong conviction.

Tepper tripled his Uber position, now 7% of his portfolio.

New position for Dorsey who sees a real moat with network effects and 20% growth. Host is skeptical — only two years of clear profitability, history of losses, became profitable by raising fees. Short and shallow track record. Host personally would not invest.

Host explicitly states he does not like Uber at all and will not follow Ackman into this position. Only 3 years of profitability, achieved by increasing fees. Network effect not clearly visible in numbers. Unsustainable fee increases.

Uber appeared as a net purchase in Trump's trade disclosures.

Uber completed 3.6B trips in Q1 2026, has $9B in free cash flow (16x FCF), 50M Uber One subscribers driving half of gross bookings, and is partnering with autonomous vehicle companies rather than being disrupted by them. The host's DCF analysis shows a midpoint fair value of $176 with a 20% expected return. He personally plans to sell cash-secured puts to generate income while waiting to buy.