Analysts predict a 25% surge in Tesla stock due to autonomous vehicle initiatives, with the AV market projected to reach $1.4 trillion by 2040. Tesla is investing heavily in AVs despite falling profits and facing competition from companies like Alphabet’s Waymo. Analysts like Stifel’s Stephen Gengaro believe in Tesla’s self-driving ambitions, forecasting a potential rise in the stock price. Meanwhile, Wedbush’s Dan Ives predicts a $2 trillion market cap for Tesla by next year due to its AV pursuits. Cantor Fitzgerald’s Andres Sheppard also sees Tesla on track with autonomous Cybercab production for 2026.
Investors expect Tesla’s full self-driving and robotaxi services to boost the company’s share price by 25%. ARK Invest’s Cathie Wood estimates 90% of Tesla’s enterprise value could come from autonomous systems by 2029. Wedbush’s Dan Ives believes Tesla’s market cap could reach $2 trillion next year due to its AV pursuits. Cantor Fitzgerald’s Andres Sheppard sees Tesla on track with autonomous Cybercab production for 2026. Deepwater Asset Management’s Gene Munster forecasts up to 40% of Tesla’s operating income could come from robotaxis and FSD by 2030.
Tesla plans to launch its robotaxi service in five new cities with 1,500 self-driving cars by year-end. However, Tesla’s profits are declining, with GAAP net income down 37% in Q3. The company faces financial challenges as it invests in AV technology amidst expired EV tax credits and a shift in consumer preferences. Investors should be cautious as Tesla pivots to costly AV tech during a financially difficult period in the EV industry. Analysts recommend waiting to see the outcome before investing in Tesla.
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Read more at Nasdaq: The List of Analysts Who Think Tesla Will Benefit Immensely From Robotaxis Keeps Growing