Tesla’s winning streak ended after 13 straight sessions yesterday, but EV shares are on the rise. Yahoo Finance spoke with experts and analysts across the industry to analyze the recent rally in the stock price, Tesla’s reputation as an AI technology company, and the likelihood that the rally will continue.
Tom Narayan, chief equity analyst at RBC Capital Markets at Global Autos, said Tesla’s (TSLA) self-driving software and recent deals with Ford (F) and General Motors (GM) are giving the company dominance in the EV market. talked about how they could contribute to Narayan said, “The deal we had with Ford and GM came to Tesla and they chose that platform… Elon Musk said we want to be like Android and really open this software to everyone.” ‘He said.
Gerber Kawasaki Wealth and Investment Management CEO Ross Gerber spoke about Tesla’s recent deals and the self-driving platform that has fueled its recent performance. “The market is finally recognizing the full value of the software we’ve been developing,” Garber said.
Yahoo Finance Senior Business Reporter Ines Ferre talks about using AI to run Tesla. “Part of this has to do with AI. Morgan Stanley’s Adam Jonas recently said that investors see Tesla as an AI company first and an automaker second,” Ferret said. I am writing a note,” he said.
Yahoo Finance market reporter Jared Blikre analyzed the EV maker’s recent profits. “The story about Tesla is about investing in technology, self-driving and how its database really gives it an edge over its competitors,” said Breikle.
Chris Versace, chief investment officer at Tematica Research, warns that forecast numbers are worth watching over the long term, even as EV stocks are rising. “The industry is moving in that direction, but we believe it may take a little longer than expected to achieve some of these projected numbers,” Versace said.
Video highlights:
00:00:03 – Yahoo Finance Senior Business Reporter Ines Ferre
00:00:25 – Yahoo Finance Market Reporter Jared Blikre
00:00:51 – Tom Narayan, Chief Equity Analyst, RBC Capital Markets
00:01:12 – Chris versace, Chief Investment Officer, Tematica Research
00:01:34 – Gerber Kawasaki Wealth & Investment Management CEO Ross Gerber
video transcript
Ines Ferre: Tesla is up 25% over the past 10 days. In fact, year-to-date, the stock is up a whopping 108%. This also has AI implications. Morgan Stanley’s Adam Jonas recently wrote a note that investors see Tesla first as an AI company and second as an automaker.
Jared Bryckle: The story about Tesla is all about Tesla’s modes, its investment in technology, its self-driving cars, its unwillingness to be evaluated like GM, Ford, and Volkswagen, and how its database actually outperforms its competitors. It’s about what brings sex.
They want to be valued like tech companies. Because that will drive the stock price up. What if Tesla is her AI story?It’s a bubble story. I interpret that to mean that Tesla will be part of the next bubble.
Tom Narayan: The reason robo-taxis have the potential to be so transformative is the deals they signed with Ford and GM that basically open up the Supercharger network. And in effect, he’s two of his OEMs entering Tesla and choosing the platform. Elon Musk said at a shareholders’ meeting. We flatly said he wanted to be like Android and make the software really open to everyone.
Chris Versace: What is interesting to me is the real transformation of this industry. Ford, GM, Stellantis, Ferrari, Volkswagen are all leaning toward this EV move. The industry is moving in that direction. However, we believe it may take a little longer than expected to achieve some of these published projections.
Ross Garber: Everything they’ve done in just 30 days since Elon refocused on Tesla like Elon registering the whole world on Tesla’s charging infrastructure and having a very very positive meeting in China movement. The market is finally fully recognizing the value of long-developed software that many have been saying would be incredibly valuable.
I think the market is starting to say, “Hey, you get it?” These cars drive themselves, so that could be great.
