Why This Tesla Investor Expects 3Q Deliveries To Undershoot Expectations: 'We Remain Bullish But Wary'
Portfolio Pulse from Shanthi Rexaline
Future Fund Managing Partner Gary Black expects Tesla's Q3 deliveries to be lower than expected due to a drop in volume estimates and erosion in auto gross margin. He predicts 445,000 units compared to the consensus estimate of 462,000 units. The high level of discounting on existing Model Y inventories is another concern. However, Black remains bullish on Tesla, expecting a reversal in Q4. Tesla shares rose 0.34% in premarket trading.
September 15, 2023 | 10:06 am
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Tesla's Q3 deliveries are expected to be lower than consensus estimates, according to Future Fund's Gary Black. Despite this, he remains bullish on the company.
The news directly pertains to Tesla and its Q3 deliveries. While the lower than expected deliveries could negatively impact the stock in the short term, the bullish outlook from Gary Black could balance this out. Therefore, the short term impact is neutral.
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