Elon Musk promises to reduce time on DOGE initiative to focus more on Tesla

From Yahoo Finance: 2025-04-23 06:16:00

Investors were disappointed when Tesla reported plummeting revenue and earnings due to challenges like high interest rates. CEO Elon Musk promised to reduce his time spent on President Trump’s DOGE initiative, focusing more on Tesla. Musk believes Tesla can become the most valuable company in the world.

Musk plans to decrease his involvement in the DOGE initiative starting in May, prioritizing Tesla. The company faces short-term challenges but expects autonomous driving technology to impact its bottom line next year. Tesla aims to increase demand by showcasing technology and launching a more affordable model.

Tesla’s first-quarter results showed a 9% revenue decline, with a 20% drop in automotive revenue offset by a 67% increase in energy revenue. Profitability suffered with a 71% decrease in earnings per share. The company refrained from providing guidance, hoping for clarity with new models and technology development.

Despite challenges, Tesla generated positive cash flow and has over $37 billion in cash. The company continues to weather challenges and invest in future growth. Tesla investors can access expert stock recommendations to maximize opportunities in the market. 1. The FDA has approved the Pfizer-BioNTech COVID-19 vaccine for emergency use in children ages 5 to 11, with a lower dosage than the adult vaccine. This decision comes after clinical trials showed the vaccine was safe and effective for this age group.

2. In a landmark ruling, a federal judge has blocked Texas’ restrictive abortion law, calling it unconstitutional. The law, known as SB8, bans abortions as early as six weeks into pregnancy and allows private citizens to sue anyone involved in the procedure.

3. The United Nations climate summit, COP26, has concluded with world leaders agreeing to accelerate efforts to combat climate change. The Glasgow Climate Pact includes commitments to reduce emissions, protect forests, and provide financial support to developing countries most affected by climate change.

4. Apple has announced its new line of MacBooks featuring the powerful M1 Pro and M1 Max chips. The laptops boast improved performance, longer battery life, and a new notch design on the display. The MacBook Pro models are available for pre-order now.

Read more: Tesla Investors Wanted 1 Major Thing From Elon Musk, and They Just Got It