Elon Musk Backs Ron Baron's Vision Of $4 Trillion Market Cap For Tesla: 'Need To Knock The Ball Out Of The Park Several Times'
Portfolio Pulse from Anan Ashraf
Billionaire investor and Baron Capital CEO Ron Baron predicts Tesla Inc (NASDAQ:TSLA) could reach a $4 trillion market capitalization in a decade, a sentiment shared by Tesla CEO Elon Musk. Baron, who invested approximately $400 million in Tesla between 2014 and 2016, likened the future of Tesla to 'Intel inside computers', suggesting the company will expand beyond automotive manufacturing to become a major supplier of autonomous driving software. However, Tesla recently reported third-quarter revenue of $23.35 billion, missing a Street consensus estimate of $24.38 billion, and production and vehicle delivery numbers below second-quarter numbers.
November 02, 2023 | 7:07 am
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NEUTRAL IMPACT
Tesla's potential to reach a $4 trillion market cap in a decade, as predicted by Ron Baron and Elon Musk, could positively impact the company's stock. However, recent lower-than-expected Q3 revenue and production numbers may negatively affect the stock in the short term.
The prediction of Tesla reaching a $4 trillion market cap in a decade by Ron Baron and Elon Musk could boost investor confidence and positively impact the stock. However, the recent lower-than-expected Q3 revenue and production numbers may cause some investors to be cautious, potentially negatively impacting the stock in the short term.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100