TSLA - 1 Artificial Intelligence (AI) Stock to Buy Before It Soars 335% to $3 Trillion According to a Wall Street Analyst
2024-07-26 04:44:00 ET
Gene Munster, co-founder and managing partner at Deepwater Asset Management, recently told CNBC that Tesla (NASDAQ: TSLA) is on pace to be a $3 trillion company. Munster highlighted opportunities related to artificial intelligence (AI), like full self-driving software and robotaxi services as key growth drivers.
His prediction lacks a specific timeline, but a $3 trillion valuation implies a 335% upside from Tesla's current market capitalization of $687 billion. Here's what investors should know.
Tesla reported disappointing financial results in the second quarter. Revenue increased a meager 2% to $25.5 billion, narrowly topping expectations. But GAAP net income nosedived 45% to $1.5 billion, missing estimates for the fourth consecutive time. The company has now recorded a profit margin below 6% in back-to-back quarters, something that hasn't happened in more than three years.
For further details see:
1 Artificial Intelligence (AI) Stock to Buy Before It Soars 335% to $3 Trillion, According to a Wall Street Analyst