Uber Technologies (NYSE: UBER) started as a risky new technology and has developed into a blue-chip quality stock whose business is entrenched in society. The single factor that most summarizes that quality is its capital return, which has been robust and is getting richer by the year.
The company’s business, operational quality, and growth trajectory led the board to authorize another, larger-than-before share repurchase authorization worth $20 billion or roughly 10% of the early August market cap. The takeaway is that Uber Technologies is no longer a risky tech start-up but now a buy-and-hold quality tech stock whose stock price has significant room to run.
