Elon Musk made yet another bold prediction: Tesla, he claimed, could eventually be worth half the value of the S&P 500 — a staggering $25 trillion.
SpaceX, Twitter and electric car maker Tesla CEO Elon Musk reacts as he visits the Vivatech technology startups and innovation fair at the Porte de Versailles exhibition center in Paris, on June 16, 2023.This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are.
While Musk didn't provide a specific timeframe for this claim, he also suggested Tesla could reach a $5 trillion to $7 trillion valuation as a robotaxi company. Probably not a good idea to say when, as a 2020 promise has passed and the full self-driving car should have been on the road in 2018."What has to happen is an autonomous taxi platform," Wood told CNBC's "Squawk Box," "Instead of selling a car and a software package and that's it.
Dan Ives, managing director of Wedbush, has a more immediate price target of $350 — and believes Tesla will have a market cap " This stands in stark contrast to Tesla's current market capitalization of $568 billion, more than half of its value in November 2021. In 2020,Not everyone shares this optimistic outlook. Chris Ailman, chief investment officer of the $333 billion California State Teachers' Retirement System, sees Tesla as primarily an automaker and finds its current valuation, at 61 times expected earnings, absurd.. "That is absurd.
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