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for tesla, which has a pe of 90 times, next week is a crucial day, but core executives suddenly leave.

2024-10-05

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existteslaon the eve of the robotaxi event on the 10th, tesla’s chief information officer (cio) announced his resignation.

according to bloomberg, citing people familiar with the matter, tesla cio nagesh saldi will leave the company. saldi since 2012hpjoined tesla and gradually became chief information officer in 2018. during his tenure, he participated in the construction of new data centers in texas and new york.

there is less than a week left before tesla officially releases robotaxi "cybercab". for the company's stock price, the performance on the day of the event may be more important than the departure of core executives.

success or failure depends on this

since the beginning of this year, tesla’s stock price has fluctuated sharply, with a cumulative increase of 0.67% as of friday.

however, since musk announced robotaxi day on april 5, tesla's stock price has risen by nearly 50%, recovering from the approximately 35% plunge in stock price at the beginning of this year, which shows the market's expectations for this event.

historically, tesla's important new product events will bring about significant fluctuations in stock prices. march 2016Model 3tesla’s stock price rose by 12% within a few days after its debut; after the humanoid robot optimus was officially unveiled at ai day in 2022, tesla’s stock price fell by 16% within a few days.

it can be said that whether tesla's stock price will regain its previous highs or fall back to lows will depend on musk's performance on robotaxi day on october 10.

to meet market expectations, tesla needs to at least ensure the implementation of physical robotaxi, plan to launch unsupervised services at least by 2026, and explain clearly to investors how tesla will commercialize self-driving taxis.

emmanuel rosner, an analyst at wolfe research, said:

“few industry events are as widely anticipated as tesla’s robotaxi day. the opportunity is huge, but they still have a lot to prove.”

investor focus: can tesla secure its position as an “ai company”?

some analysts pointed out that robotaxi day is ostensibly an event to launch autonomous driving technology, but in fact musk needs to convince investors at this event:tesla is a “technology company” not an “automaker.”

wall street generally believes thattesla's future growth will mainly come from the execution of ai projects, especially robotaxi and the humanoid robot optimus.this is also the reason why tesla's stock price has been supported amid weak electric car sales.

currently, tesla’s valuation remains high;the forward price-to-earnings ratio for the next 12 months is as high as 90 times, higher than the other six companies in the "seven sisters" of technology stocks., ranking among the rapidly advancing technology companies such as palantir and snowflake.

there is also a view that the success or failure of the robotaxi day event depends largely on musk.

tesla bears believe musk is diverting investors' attention from the company's bigger problems - such as declining sales, increased competition and declining profitability of electric vehicles.

stock price bulls believe that musk has signaled progress in ai-driven self-driving technology, which will further demonstrate that tesla is more than just a car company - and that musk oversees it.

model 2 also attracts attention

in addition to robotaxi itself, investors are also paying attention to whether tesla will launch a more affordable new model model 2 at this event.

the affordable version of model 2 (with a starting price of less than $30,000) is expected to expand tesla's potential market, but tesla's sales are already showing weakness.

according to data from wards automotive, tesla's u.s. sales fell nearly 10% year-on-year through august, while the overall electric vehicle market sales increased only 7%, while u.s. plug-in hybrid vehicle sales also fell year-on-year. an increase of 18%.

wall street currently expects tesla to deliver about 1.8 million vehicles in 2024, basically the same as in 2023 and lower than the 2.3 million vehicles analysts predicted a year ago.