This week,According to a Goldman Sachs research report,projected$Tesla (TSLA.US)$The price war continued, and profit expectations were lowered. Combined with concerns that the Federal Reserve will maintain high interest rates for a longer period of time, it has hurt risk appetite. Tesla has dropped by more than 7% this week, and may end its four-week upward trend. However, the company still recorded a 107% increase this year.
Despite Goldman Sachs lowering profit expectations and the overall macroeconomic environment is relatively sluggish. However, Tesla also has some good news recently:
The much-anticipated Tesla electric pickup is expected to usher in significant progress. According to the latest media reports, the Cybertruck, an electric pickup truck that Tesla began production in July, also seems to be preparing for mass production, and more production equipment has arrived at the Texas Gigafactory.
Tesla's supercharging station adds another member to its “circle of friends”: Jaguar and Tesla have signed an agreement to begin using NACS connectors on electric vehicles in 2025.
Additionally, Tesla is rumored to have decided to manufacture and sell battery storage systems in India and submitted a proposal to Indian officials to seek incentives to build a factory.
So what does the market think of Tesla's future market?
More than S&P 500 ETFs! Tesla has become a favorite among individual investors
According to data from Vanda Research, over the past five years, Tesla's capital inflows from individual investors have continued to rise.
In 2023, for the first time, Tesla is expected to become the securities with the most inflows of capital from individual investors, even surpassing the ETF that tracks the entire S&P 500 index$SPDR S&P 500 ETF (SPY.US)$.
As can be seen from the chart below, as of September 11, 2023, Tesla's trading volume has surpassed$SPDR S&P 500 ETF (SPY.US)$,$Invesco QQQ Trust (QQQ.US)$Exponential ETFs, and far ahead$NVIDIA (NVDA.US)$,$Apple (AAPL.US)$Other star technology stocks.
While being optimistic and losing her holdings, Sister Mu Tou sold Tesla for 7 consecutive days
“Sister Wood” Cathie Wood (Cathie Wood) believes that Tesla is the “biggest artificial intelligence opportunity” in the world today and has huge potential for growth in the future. In an interview, it said,She is confident about the future of Tesla's autonomous taxis and says Tesla is likely to be the winner in the market.
Furthermore, “Sister Mu Tou” also gave an amazingly high target price. She believes that Tesla will reach a price of 2,000 US dollars per share in 2027, which means a 680% increase from Thursday's closing price; even in a bear market, the target price will reach 1,400 US dollars.
What is interesting is that although “Sister Mu Tou” still maintains a bullish stance on Tesla, her fund has sold Tesla for 7 consecutive trading days since September 13, reducing its holdings by about 300,000 shares in total.
Why the sell-off? According to “Sister Mu Tou,”Even the target price of 1,400 US dollars is based on the view that “two-thirds of Tesla's performance depends on an autonomous taxi business that does not currently exist.”
Wood also previously explained that his fund's decision to sell Tesla shares did not reflect the company's fundamentals, but rather a strategic move to finance other promising investments.
What do analysts think?
Some analysts pointed out that Tesla's stock price is approaching some key support levels.Investors need to be prepared for potential volatility.In its opinion,
Tesla's stock price chart is like a mountain range, with many steep slopes. After recently climbing to around $280 per share, it appears to be falling from the other side of the peak.
Frank Cappelleri, a market technical analyst and founder of CappThesis, said
The current focus is to see if stocks will fall below a steep upward trend line. In 2023, similar trend line breaks quickly led to a decline in stock prices.
Tesla's stock price rose from around $220 to $280 in a short period of time. But now, the stock price is likely to fall below $260. If it actually falls below, according to its analysis chart, a price of $240 is likely to occur.
However, the recent decline in stock prices is not due to the company's own problems. John Roque, senior managing director and head of technology strategy at 22V Research, said:The entire market is undergoing adjustments, and Tesla is unlikely to stand alone.
In addition to the $240 mentioned by Cappelleri, Fairlead Strategies analyst Will Tamlin said:
Tesla's key support level is around $218.Because this price is the starting point for the round of Tesla stock price increases that began in mid-August, it is also another price point that investors need to pay attention to.
Additionally, Gary Black, former chief investment officer of Goldman Sachs, who has been tracking Tesla for a long timeThe latest forecast is that Tesla will deliver 445,000 vehicles in the third quarter, while the market generally expects 462,000 vehicles.However, it said that this situation may reverse in the fourth quarter as the remodeled Model 3 is delivered one after another. The analyst also predicts that the gross profit margin for automobiles in the third quarter (excluding regulatory credit) will be around 17.5%, which is expected to bottom out.
According to Tipranks data, there are currently 28 analysts covering the company, 11 of which have given a “buy” rating. The average target price is $270.8, and there is a potential increase of about 6% from the current latest price.
Cow friends,
Are you optimistic about Tesla's next trend?
Welcome to leave your thoughts in the comments area~
Editor/Somer