TECH - Tesla's Q2 Deliveries Beat Draws Mixed Reaction From Analysts: Early Independence Day Celebration Or Giant Financial Incentive-Driven Transitory Boost? | Benzinga
Tesla, Inc. (NASDAQ:TSLA) reported Tuesday above-consensus deliveries for the second quarter, sending its stock up by over 10% to its highest level in nearly six months. Analysts and fund managers weighed in on the report to decipher what led to the outperformance and its sustainability.
Munster Admits Mistake: “Mea culpa,” said Deepwater Asset Management Managing Partner Gene Munster in a post. Despite the nearly 5% year-over-year sales decline, the stock rallied notably because the rate of decline versus the prior year period improved from 9% in the March quarter to 5% in the June quarter, he said.
An improvement may have helped Tesla in demand as the sales beat came despite lighter discounting in the June quarter relative to the March and December quarters, the fund manager said.
Munster expects deliveries to return to growth in the September quarter, with the growth likely accelerating in the December quarter.
The tech analyst said the Aug. 8 robotaxi unveil will have a meaningful impact. The timing and pricing of the three new vehicles will continue to add noise over the next year, he said. He sees the company returning to mid-20% growth in the calendar year 2026.
Black Sees Low Financing Options: Strong deliveries increase the odds of Tesla extending favorable low-interest financing into the third quarter, said Future Fund’s Gary Black. The company will likely prefer this option over additional price cuts, he said.
The big positive, according ...