From Yahoo Finance · · 1m 20s
Tesla Slumps 21% YTD as AI Bull Targets $600
Tesla falls 21% this year as Wall Street's top AI investor bets on 70% upside from AI and robotics plays.
In brief
Tesla falls 21% this year as Wall Street's top AI investor bets on 70% upside from AI and robotics plays. Tesla's 21% YTD drop reflects market skepticism on EV focus, but Dan Ives' $600 target hinges on AI and robotics scaling. Originally reported by Yahoo Finance.
Tesla YTD Drop
Tesla shares down 21% year to date versus S&P 500's 11% gain.
Dan Ives' $600 Target
Wedbush analyst Dan Ives targets $600 for Tesla, implying 70% upside from current price.
AI and Robotics Focus
Tesla's bull case values it as an AI and robotics platform, not just an EV maker.
Robotaxi Progress
Robotaxi operations expanded to seven U.S. markets with 380,000 miles of unsupervised driving.
Optimus Targets
Musk aims for 1 million Optimus 3 units and 10 million Optimus 4 units annually.
Bear Case Strengthens
Tesla's operating margin collapsed to 1.4%, free cash flow turned negative, and CapEx exceeds $25 billion.
Consensus Target
Wall Street's average price target sits at $390.09, implying less than 10% upside from current price.
Rivian vs. GM
Rivian fell 21% YTD while GM gained 5% YTD, highlighting auto sector split.
Ives' Credibility
Ives' bull case requires FSD to scale into a software subscription franchise and Robotaxi to avoid safety incidents.
What it means
Tesla's 21% YTD drop reflects market skepticism on EV focus, but Dan Ives' $600 target hinges on AI and robotics scaling.
