2024-05-17 08:36:00 ET
With a valuation more than 6 times sales, Tesla (NASDAQ: TSLA) costs significantly more than rival automotive stocks like Ford and General Motors , both of which sell for mere fractions of 1 times sales. Tesla fans defend Tesla's high valuation , arguing Tesla is more than just a car company -- that its investments in artificial intelligence to power its self-driving car technology mean Tesla is really an AI company .
And investors in Dell Technologies (NYSE: DELL) had better hope they're right.
On Thursday, Dell won a big upgrade when investment bank Evercore ISI raised its price target on the stock from $140 to $165. As Evercore explained, its reason for upgrading Dell is because Tesla is buying much of its AI server capacity from Dell Technologies.
For further details see:
Dell Stock Is Going to $165, According to 1 Wall Street Analyst