Tesla Shares Jump 12% on Musk's AI Vision Despite Earnings Miss
April 28, 2024Tesla's stock increased by 12% following CEO Elon Musk's focus on AI and robotics during an earnings call.
The company's earnings were below expectations with concerns about slowing growth prospects.
Musk's prioritization of AI over affordable vehicle production raises questions about Tesla's strategic direction.
Tesla faces stiff competition in the Full Self-Driving (FSD) market, particularly from Alphabet's Waymo.
Experts believe an affordable Tesla model could see widespread adoption, yet doubts linger due to the new focus.
Despite uncertainties, The Motley Fool lists Tesla among the top 10 stocks to buy, citing its FSD potential.
Investors are cautioned as Tesla's stock may carry a significant premium based on its FSD prospects.
Summary based on 11 sources
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Sources
Yahoo Finance • Apr 26, 2024
Tesla Stock (NASDAQ:TSLA): Earnings Not as Good as the Reaction SuggestsYahoo Finance • Apr 27, 2024
Elon Musk Called Tesla an Artificial Intelligence (AI) Robotics Company. Does That Make It a Buy?The Globe and Mail • Apr 27, 2024
Elon Musk Called Tesla an Artificial Intelligence (AI) Robotics Company. Does That Make It a Buy?Nasdaq • Apr 26, 2024
Tesla Stock (NASDAQ:TSLA): Earnings Not as Good as the Reaction Suggests