Tesla to unveil Robotaxi at event, analysts have mixed expectations, ETFs in focus.

From Nasdaq: 2024-10-09 10:00:00

Tesla is set to unveil its Robotaxi at an event on Thursday after a 43% surge in stock prices. Analysts have mixed expectations for the Robotaxi’s impact on Tesla’s revenue and market share. ETFs like ARKK and XLY with significant exposure to Tesla are in focus ahead of the event.

The Robotaxi, dubbed Cybercab, is expected to be a small AV designed for personal ownership and rental purposes. The vehicle will rely on AI-guided cameras and Tesla’s autonomous driving software. Market analysts predict a $1.7 trillion global revenue potential for Robotaxis by 2040.

Despite high expectations, some analysts doubt Tesla’s ability to fulfill its ambitious plans for the Robotaxi. Estimates suggest the cost to develop a global fleet of Robotaxis could reach $35 billion. Analysts like Jim Cramer and Cathie Wood remain optimistic about Tesla’s potential in the autonomous vehicle market.

ETFs like ARKK, XLY, VCAR, ARKQ, and FDIS are in focus ahead of Tesla’s Robotaxi event. These ETFs offer exposure to companies in the autonomous driving and technology space, with Tesla holding top positions in their portfolios. Investors should monitor these funds for potential impact from the Robotaxi unveiling.



Read more at Nasdaq: Tesla ETFs in Focus Ahead of “Robotaxi” Event