Stocks Analysis by The Tokenist (Timothy Fries) covering: Renault SA, Alphabet Inc Class A, Baidu Inc, Tesla Inc. Read The Tokenist (Timothy Fries)'s latest article on Investing.com
) is scheduled to release its Q2 earnings report on July 17th. Before that, the leading EV company is set to announce Q2 deliveries this week. The Q2 results are adjacent to the much-anticipated “robotaxi day” announcement on August 8th, which is expected to tweak the Tesla narrative.
For Q2 ‘24, FactSet consensus for Tesla deliveries sits at 448,000 EVs, constituting a nearly 16% uptick in sales from the prior quarter. Some analysts, like Wedbush’s Dan Ives, noted that a less optimistic range should be expected, within 415,000 – 420,000. Tesla’s capacity has steadily ramped up over the years to prepare for the EV future. Image credit: Tesla
If Tesla’s “robotaxi day” on August 8th convincingly breaks such expectations, Tesla’s pivotal stock rally is likely. The most recent news on granted green light to test FSD in China suggests a more optimistic outlook.Even if the robotaxi narrative is delayed, Tesla shareholders have the “Model 2” project to look forward to. Previously dubbed “Redwood”, the rumored $25k price tag is finally supposed to tackle affordability as the main EV adoption hurdle, by mid-2025.
Twelve months ahead, Nasdaq’s forecasting data shows the average TSLA price target at $182.1, with a ceiling of $310 per share. The bottom is $22.86, showcasing many unknowns in tech challenges, macro environment, logistics lithium supply, and the market’s reception of Tesla’s competitors.
Alphabet Inc Class A Baidu Inc Tesla Inc
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