Catherine Wood, founder of the Ark Investment Management Company (Ark Investment Management), said on Tuesday that she believesTeslaThe share price could exceed $6000 over the next five years.
Wood said that in Tesla, Inc. 's recent rally, the target price may be higher. She predicted in February 2018 that Tesla, Inc. 's share price would reach $4000 in the future.
'This bullish view is based on the belief that Tesla, Inc. will not lose his considerable share of the electric car market, 'she said. Wood has said Tesla, Inc. will lose 1/3 of his 17 per cent market share in 2019.
"when we saw the gap between other car companies and Tesla, Inc., we began to think that Tesla, Inc. might not lose market share, which was the biggest change we expected for the company," she said. "
Based on 180 million outstanding shares, a share price of more than 6000 US dollars will make Tesla, Inc. firmly in the trillion dollar market capitalization club. At present, Tesla, Inc. 's market capitalization is close to 100 billion US dollars.
AppleThe company became the first U. S. listed company with a market capitalization of $1 trillion in August 2018. A month later,AmazonThe market capitalization has also reached trillions.Microsoft CorpThe market capitalization reached $1 trillion in August 2019.
Shares in Tesla, Inc. hit an all-time high on Tuesday, with the electric carmaker surging more than 9 to $500 on Monday. The stock has soared nearly 30 per cent so far this year and has more than doubled since late September.
Oppenheimer analyst Colin Colin Rusch on Monday raised Tesla, Inc. 's target price by nearly 60 per cent to $612 a share, making it the largest Tesla, Inc. bull among traditional Wall Street banks.
Another key aspect of Wood's optimistic forecast for Tesla, Inc. is self-driving cars. Mr Wood believes that Tesla, Inc. has become a leader in this emerging technology field because the company's existing vehicles are already collecting data for self-driving.
Tesla, Inc. 's self-driving taxi fleet can develop software with a profit margin of about 80%, which she thinks can support a share price of about $6000, she said.
"in autonomous platforms and any artificial intelligence project, the winner is the company with the most data and the highest quality data," she says. This company is Tesla, Inc.. "