Get Ready: Dan Ives Expects Tesla's Sub-$30K Car To Debut Next Year, Sees Robust 2024 For EV Giant
Portfolio Pulse from Anan Ashraf
Wedbush analyst Dan Ives predicts Tesla Inc (NASDAQ:TSLA) will launch a sub-$30,000 electric vehicle by the end of 2024, potentially boosting the company's unit volume. Ives, who considers Tesla a tech company, remains bullish on the stock. He also forecasts a 25% surge in tech stocks for 2024, with AI as a key driver, and a 30% increase for the 'Magnificent 7' stocks, including Tesla. His past predictions include Elon Musk finding a new CEO for Twitter and tech industry layoffs in 2023.
December 19, 2023 | 6:37 am
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POSITIVE IMPACT
Dan Ives expects Tesla to launch a sub-$30,000 EV by end of 2024, which could significantly increase Tesla's unit volume and market share in the EV sector.
The prediction of a lower-priced Tesla vehicle aligns with the company's strategy to increase affordability and market penetration. If realized, this could attract a broader customer base and lead to higher sales volumes, positively impacting the stock price in the short term. The confidence score reflects the credibility of the analyst based on past accurate predictions, but it's tempered by the fact that the launch is still speculative and a year away.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100