BYD Leaps On Record Sales That Value The Chinese EV Maker At 66% Discount To Tesla
Portfolio Pulse from Daniel Harrison
BYD Company Limited's shares jumped 7% after announcing it would report record quarterly earnings this month. The company expects net profits in Q3 to be between $1.3 billion and $1.4 billion, a 67% to 102% increase from last year. BYD's EV sales hit a record volume, and its handset components business performed well due to its partnership with Apple. Despite stronger overall performance, BYD is trading at a significant discount compared to rivals Tesla, XPeng, Li Auto, and Nio.
October 18, 2023 | 1:17 pm
News sentiment analysis
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NEUTRAL IMPACT
Apple's partnership with BYD for iOS installations has contributed to BYD's strong performance.
While Apple's partnership with BYD has contributed to BYD's strong performance, the direct impact on Apple's stock is not clear from the news.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 50
NEUTRAL IMPACT
BYD is trading at a significant discount compared to Li Auto despite stronger overall performance.
The news mentions Li Auto as a comparison to BYD's performance and valuation, but it does not provide specific information that would impact Li Auto's stock.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 50
NEUTRAL IMPACT
BYD is trading at a significant discount compared to Nio despite stronger overall performance.
The news mentions Nio as a comparison to BYD's performance and valuation, but it does not provide specific information that would impact Nio's stock.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 50
NEUTRAL IMPACT
Despite BYD's strong performance, it is trading at a significant discount compared to Tesla.
The news mentions Tesla as a comparison to BYD's performance and valuation, but it does not provide specific information that would impact Tesla's stock.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 50
NEUTRAL IMPACT
BYD is trading at a significant discount compared to XPeng despite stronger overall performance.
The news mentions XPeng as a comparison to BYD's performance and valuation, but it does not provide specific information that would impact XPeng's stock.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
BYD's shares jumped on expected record Q3 earnings. The company's strong performance and partnership with Apple could boost investor confidence.
The announcement of record earnings and strong performance in various sectors, including a partnership with Apple, is likely to boost investor confidence and potentially drive the stock price up.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100