From Nasdaq: 2024-07-26 01:14:01

Tesla reported a mixed Q2 2024, with automotive revenue and earnings down. However, the energy business saw sales double to $3 billion, driven by storage solutions. Demand for storage solutions is expected to rise with growing renewable energy installations. Tesla is expanding its manufacturing capacity in Shanghai to triple output.

Despite energy sales accounting for only 12% of total revenue, Tesla’s storage solutions could reduce intermittency for renewable power plants. However, competition is stiff, and the business may not significantly impact Tesla’s overall performance. TSLA stock has been volatile, underperforming the S&P 500 in 2022 but outperforming in other years, showing challenges in consistently beating the index.

The Trefis High Quality (HQ) Portfolio has consistently outperformed the S&P 500 each year. Tesla stock is valued at $230 per share, in line with the current market price. Trefis provides analysis on Tesla’s valuation and business model. Historical TSLA returns show volatility, with the stock underperforming and outperforming the S&P in different years, reflecting market challenges for individual stocks.

Invest with Trefis for market-beating portfolios and see all Trefis price estimates for more insights. Note that the views expressed are the author’s and not Nasdaq, Inc.’s.



Read more at Nasdaq: Tesla’s Energy Business Grew 2x In Q2. What’s Next?