Shares of Tesla Inc (NASDAQ: TSLA) have surged over 50% since April and are on the brink of a breakout. The upcoming earnings report could be a make or break moment for the stock, with strong momentum building and a bullish chart pattern suggesting a potential move to $350-$370.

Despite forecasts of revenue and earnings decline for Tesla, the stock could see an upside surprise. Wall Street remains cautious, but past earnings misses have not hindered Tesla’s stock performance. The company’s potential in AI and energy infrastructure may drive the stock higher, especially if Wednesday’s update confirms its ambitious plans.

Fresh updates from CEO Elon Musk on Tesla’s AI roadmap and the robotaxi launch could fuel the next rally. With the stock’s P/E ratio at 180, skeptics abound, but bullish sentiment is driven by Tesla’s broader potential beyond EVs. A bullish MACD crossover last week signals a possible breakout, despite challenging macroeconomic conditions.

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Read more at Nasdaq: TSLA Earnings Week: Can Tesla Break Through $350?