PUBG MOBILE

The Stock Could Soar 1,300%.

  • Dan Ives at Wedbush recently upped his target price on Tesla to $500 per share because Musk stepped back from DOGE and robotaxis will launch in June.

  • Elon Musk thinks Tesla will eventually be worth more than the next five largest companies combined, a prediction that currently implies about 1,300% upside.

  • Tesla plans to introduce autonomous ride-sharing services in several U.S. cities in 2025, and Musk believes the company will eventually hold 99% market share.

  • These 10 stocks could mint the next wave of millionaires ›

Tesla (NASDAQ: TSLA) shares have declined 15% year to date amid a flurry of bad news. The company lost 7 percentage points of market share in the first quarter, ceding the top position in electric car sales to Chinese automaker BYD, as demand deteriorated across China, Europe, and the United States.

Those market share losses were due in part to factory updates that limited production of the Model Y, which still ranks as the best-selling car on the planet. However, CEO Elon Musk’s involvement in politics added to the problem. And President Donald Trump created another headwind for the company by imposing a 25% tariff on imported auto parts.

Fortunately, shareholders just got good news from Wedbush analyst Dan Ives. Encouraged by the upcoming robotaxi launch in June and Musk stepping back from the Department of Government Efficiency to refocus on Tesla, he raised his target price to $500 per share. That implies 47% upside from its current share price of $339. “We believe Tesla remains the most undervalued AI play in the market today,” Ives wrote.

Better yet, shareholders also got some good news from CEO Elon Musk. Read on to learn more.

An upward-trending green arrow overlaid on Benjamin Franklin's face.
Image source: Getty Images.

On the first-quarter earnings call, CEO Elon Musk told analysts, “I continue to believe that Tesla, with excellent execution, will be the most valuable company in the world by far. … It may be as valuable as the next five companies combined.”

Musk made a similar comment on the fourth-quarter earnings call a few months earlier: “There is a path where Tesla is worth more than the next top five companies combined. And that is overwhelming due to autonomous vehicles and autonomous humanoid robots.”

The top five companies — Apple, Microsoft, Nvidia, Amazon, and Alphabet — currently have a collective market value of $14 trillion, and Tesla is worth about $1 trillion. So, Musk’s prediction currently implies 1,300% upside as the company leans into major opportunities in autonomous driving and robotics products.

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