Why This Tesla Analyst Refuses To Let Go Of Stock Despite Mega-Cap Peer Pressure: 'Please Don't Tell Me To Sell …'
Portfolio Pulse from Shanthi Rexaline
Tesla's stock has fallen about 25% since its Q2 results on July 19, underperforming against mega-cap tech peers. Future Fund's Gary Black attributes this to CEO Elon Musk's comments on imminent vehicle price cuts. Tesla's average selling price has declined 20% YoY globally, and the 2023 EPS has fallen 36% YTD and 41% YoY. However, Black remains optimistic due to increasing global EV adoption and Tesla's strong product and visionary CEO.
August 18, 2023 | 6:37 am
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Tesla's stock has fallen about 25% since its Q2 results, attributed to CEO Elon Musk's comments on imminent vehicle price cuts. However, Future Fund's Gary Black remains optimistic due to increasing global EV adoption and Tesla's strong product.
The stock's decline is attributed to Musk's comments on vehicle price cuts, which have led to a decrease in Tesla's average selling price and a fall in the 2023 EPS. However, Black's optimism due to increasing global EV adoption and Tesla's strong product could potentially mitigate the negative impact.
CONFIDENCE 90
IMPORTANCE 100
RELEVANCE 100
NEUTRAL IMPACT
Apple's stock performance was compared to Tesla's, which has been underperforming.
The article mentions Apple in comparison to Tesla's underperformance, but does not provide specific details about Apple's performance.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50
NEUTRAL IMPACT
Amazon's stock performance was compared to Tesla's, which has been underperforming.
The article mentions Amazon in comparison to Tesla's underperformance, but does not provide specific details about Amazon's performance.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50
NEUTRAL IMPACT
Alphabet's stock performance was compared to Tesla's, which has been underperforming.
The article mentions Alphabet in comparison to Tesla's underperformance, but does not provide specific details about Alphabet's performance.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50
NEUTRAL IMPACT
Microsoft's stock performance was compared to Tesla's, which has been underperforming.
The article mentions Microsoft in comparison to Tesla's underperformance, but does not provide specific details about Microsoft's performance.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50
NEUTRAL IMPACT
The Invesco QQQ Trust, an ETF that tracks the performance of the 100 biggest tech companies, was mentioned in comparison to Tesla's underperformance.
The article mentions the Invesco QQQ Trust in comparison to Tesla's underperformance, but does not provide specific details about the ETF's performance.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50