BYDDY - Tesla Q1: Model 2 Could Be Their Model T
2024-04-25 11:58:24 ET
Summary
- Tesla, Inc.'s Q1 earnings showed resilience despite challenges, with a net income of $1.1 billion and continued plans for an affordable "Redwood" model.
- The launch of the "Redwood" Model 2 could significantly expand Tesla's consumer base and increase profitability.
- The Model 2, priced at $25,000, presents a strong buying opportunity for investors and could make Tesla the world's largest automaker.
Investment Thesis
Going into the Q1 earnings call on April 23rd, I saw expectations as quite low for Tesla, Inc. (TSLA). Post Q1 earnings , I believe it's clear the company continues to navigate a highly delicate act full of operational challenges while still trying to push the envelope on electric vehicle ("EV") technology and cost reductions, fundamental to their long-term strategy.
With this, and despite the EPS miss , I think the company still rose to the occasion. The first quarter saw Tesla achieving a GAAP net income of $1.1 billion and a non-GAAP net income of $1.5 billion, despite significant external pressures, including geopolitical tensions and supply chain disruptions??....
Tesla Q1: Model 2 Could Be Their Model T