2024-04-27 03:32:00 ET
Thanks to its outstanding gain of 943% in the last decade, coupled with its disruptive culture and category-leading products, Tesla (NASDAQ: TSLA) is part of the " Magnificent Seven . " It's in this exclusive club with Amazon , Alphabet , Apple , Microsoft , Meta Platforms , and Nvidia , all huge winners in the stock market.
But there's another stock up a remarkable 1,040% in the past 10 years, and I'd argue it should replace Tesla in the Magnificent Seven.
Tesla just reported its first-quarter financial results. Overall revenue came in at $21.3 billion, with adjusted earnings per share totaling $0.45. These two headline figures missed Wall Street's expectations. Adding fuel to the fire, management said "vehicle volume growth rate [in 2024] may be notably lower than the growth rate achieved in 2023" in the earnings presentation.
For further details see:
Should This Phenomenal Stock Replace Tesla in the "Magnificent Seven"?