Uber approaches $79 as job cuts and robotaxi investment come into focus
Uber stock remains inside a multi-month consolidation range. A large-scale restructuring is providing additional momentum as the company looks to cut costs and free up resources for autonomous transportation.
65.80
66.82
Uber plans to eliminate around 3,300 jobs, or roughly 10% of its global workforce, in what would be its largest round of layoffs since the pandemic. The restructuring includes reducing management layers, combining smaller teams and speeding up decision-making.
The main strategic factor remains growing competition from robotaxis. Uber plans to invest more than $10 billion in autonomous transportation over the coming years, backing technology developers while seeking to preserve its role as a key platform for driverless rides.
$79 remains the key breakout level for Uber
Uber stock has been consolidating since February 2026 within a range of roughly $68.50–79. The price has repeatedly attempted to break both above and below these boundaries, but previous moves ended in bullish and bearish traps.
On the daily chart, the stock tested the 200-day SMA near $75.55. In premarket trading on September 3, the price had already moved above $77.50, making the upper boundary of the range near $79 the next key target.
A decisive break and sustained move above $79 could end the multi-month consolidation and open the way toward $82. If momentum continues, the next medium-term target would be the area around $88.
Previous false breakouts, however, mean that confirmation on stronger volume remains important. If buyers once again fail to clear $79, attention would shift back toward the 200-day SMA and the broader range would remain intact.
Robotaxi investment meets a crucial technical test
Cutting roughly 10% of its workforce could reduce costs and make Uber’s structure more efficient while allowing the company to redirect capital toward robotaxis and other strategic priorities. The initial market reaction suggests investors are viewing the restructuring relatively positively.
Corporate news alone, however, is unlikely to establish a stronger medium-term trend. After several false moves outside the range, a sustained break above $79 would be the clearest confirmation that Uber is finally ready to move from consolidation into a new upward phase.
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