# 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.
- Title: Tesla Slumps 21% YTD as AI Bull Targets $600 · Yahoo Finance
- Summary: 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…
- Keywords: tesla, dan ives, robotaxi, optimus, nfl, s&p 500, forward p/e, free cash flow, robotics platform, ai platform, ev manufacturer, Slumps
- Source: Yahoo Finance — https://finance.yahoo.com/markets/stocks/articles/tesla-tanked-one-tech-biggest-143526458.html
- Published: 2026-09-16T14:35:26+00:00
- Read time: 1 min
- Topics: tesla, dan ives, ai, robotaxi, optimus, nfl, s&p 500, forward p/e, free cash flow, robotics platform, ai platform, ev manufacturer
## 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.
## Key takeaway

Tesla's 21% YTD drop reflects market skepticism on EV focus, but Dan Ives' $600 target hinges on AI and robotics scaling.