Tesla Q2 Preview: Will the Surge Continue?
Why has Tesla's stock surged over $100 since April?
Let's break it down.
Tesla delivered about 440k vehicles in Q2, surpassing analysts' estimates and boosting investor confidence.
Their energy storage business is also booming, hitting a record high of $1.64 billion in revenue, up 7% from the previous quarter.
This shows Tesla's strength beyond just electric vehicles.
Looking ahead, Tesla's Q2 earnings call on July 23rd is highly anticipated. Analysts expect a 2.9% revenue decline to $24.2 billion year-over-year, which might seem concerning.
However, excitement is building around potential updates on Tesla's AI training capacity, the Cybertruck, and Optimus robot timelines. While these advancements might not impact Tesla’s bottom line immediately, they could be bullish long-term.
Many analysts have a positive outlook, Dan Ives stated, "The worst is in the rearview mirror for Tesla." For now, the ramifications of the US election, competition from China, and global EV demand are firmly in the spotlight.
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