Amid investor dissatisfaction with Elon Musk's recent "Robotaxi" presentation, the Tesla Inc. (NASDAQ:TSLA) CEO might have to address these concerns during the company's upcoming quarterly earnings call. However, a few experts have moved on from the "Cybercab" and are hoping for Tesla to do the same.
What Happened: Musk's brief 20-minute presentation of Tesla's self-driving vehicle did not include a Q&A session, leaving investors questioning the state of Tesla's core automotive business. Analysts are particularly interested in the production timeline and sales strategy for the robotaxi, which Musk claims will be produced in 2026 and priced under $30,000.
However, Barclays analysts noted a shift in focus back to Tesla's core business fundamentals after the Robotaxi Day, Reuters reported on Monday.
"With Tesla's Robotaxi Day passed, we believe the focus for Tesla at least for now shifts back to fundamentals," the analysts said in a note.
Gary Black, managing partner at The Future Fund, has also emphasized that his firm does not factor in potential revenue from robotaxis and Optimus until competitive dynamics and economics become clearer. Despite Tesla's underperformance against broader tech indices, the Future Fund maintains a long position in Tesla, citing global EV adoption trends and expansion opportunities.
Why It Matters: Tesla has reduced prices to boost demand amid high interest rates, but results have been mixed. This strategy, particularly in China, has included incentives and low-cost financing, potentially affecting Tesla's margin, a key advantage over traditional automakers.
Additionally, Tesla's annual deliveries are expected to see a slight drop, with competition from cheaper electric vehicles in China and new models from traditional automakers.
Tesla's recent stock performance has been under scrutiny, with shares falling over 3.5% in premarket trading despite third-quarter deliveries exceeding consensus forecasts. This reaction may be attributed to the deliveries coming in below whisper numbers and concerns over the sales of best-selling models like the Model Y and Model 3.
Price Action: At the time of writing, Tesla was trading slightly lower at $219.69 on Monday, as per Benzinga Pro.
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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
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