Tesla's Robotaxi Unveiling: High Stakes and Skepticism Ahead of Elon Musk's Hollywood Presentation

Tesla's Musk heads to Hollywood to unveil his robotaxi - and face a long list of questions

SAN FRANCISCO (Reuters) - Tesla faces a watershed moment on Thursday when CEO Elon Musk takes the stage at the Warner Bros Hollywood studio to unveil much-delayed plans for a robotaxi, a project that has reignited the electric vehicle maker's stock, despite cooling expectations for EV growth. Musk has said Tesla's robotaxi product - called a Cybercab - will be a new model of vehicle that can drive itself and work on a Tesla ride-hailing platform. Tesla also will allow owners to make money off their cars by putting them on the ride-hailing network as autonomous cabs, which he has called a "combination of Airbnb and Uber." Tesla's Full Self-Driving software relies on cameras and artificial intelligence to drive current cars, with driver supervision but without the costly additional hardware associated with radar systems and lidar technology that other robotaxi players use. Musk expects that improving this technology will let him crack a still-nascent and tightly regulated industry that has resulted in billions of dollars in losses for others. Investors, attracted by Musk's estimate that Tesla's robotaxi business could drive the company's valuation to $5 trillion from $750 billion now, want to see a prototype and learn how quickly Musk can mass-produce it, at a profit. They want to understand regulatory hurdles and how FSD, still categorized as a type of partial automation, can become safer than a human driver. "They need to get going because this has been sort of discussed, rumored, talked about and announced in various forms for a while," said Elliot Johnson, chief investment officer at Evolve ETFs, which manages investments in Tesla. He does not expect anything announced on Thursday to have a financial impact for one to two years. Musk said in 2019 he was "very confident" the company would have operational robotaxis by the next year. This year he shelved plans for a new, affordable vehicle in a sharp pivot to robotaxis. Tesla "should be thought of as an AI robotics company," not a carmaker, he said. Few observers, if any, expect a fully functioning product. "We believe the robotaxi event will be long on vision, and short on immediate deliverables or incremental revenue drivers," Bernstein analyst Toni Sacconaghi said in a research note. "The company has a track record - particularly in FSD - of being overly optimistic and there is significant devil in the details." Tesla could also give specifics on cheaper versions of its current lineup as well as update investors on its humanoid robots, Optimus, he said. HIGH EXPECTATIONS AND RISK Hopes are high ahead of the event - called "We, Robot" in an apparent nod to the "I, Robot" collection of science-fiction short stories by American writer Isaac Asimov. Tesla shares - hurt in recent years by worries EV rivals with cheaper and fresher models are eating in to its market share - are up nearly 50% since April when Musk announced the shift to robotaxis. Still, expectations of volatility in Tesla's stock over the next 30 days are close to a two-year high, driven primarily by uncertainties around the robotaxi event, according to options data from Trade Alert. Bringing self-driving vehicles to market has proven time-consuming and costly for other companies. Alphabet's Waymo is the only U.S. firm operating uncrewed robotaxis that collect fares. Others still in the race include General Motors' Cruise - re-launching robotaxis with a safety driver after an accident last fall forced it to halt operations - and Amazon's Zoox, which is expanding testing of its self-driving taxis that come without steering wheels and pedals. To keep Tesla's costs in check, Musk has decided to steer clear of sensors beyond cameras and he could potentially develop the first generation of Cybercab on its existing platform that runs the Model 3 and the Model Y. Tesla also has learnings from the data it collects from millions of vehicles. But investors and analysts said leapfrogging to high levels of automation that do not require driver supervision from its current FSD technology - which has come under increased regulatory and legal scrutiny with at least two fatal accidents - will not be easy. "We think this is still several years away and numerous technological hurdles, safety tests, and regulatory approvals are still standing in the way," CFRA Research analyst Garrett Nelson said, highlighting "an increasing disconnect between the stock's lofty valuation and the reality that Tesla's earnings growth has hit a wall." (Reporting by Abhirup Roy in San Francisco; Additional reporting by Akash Sriram in Bengaluru and Saqib Ahmed in New York; Editing by Ben Klayman, Peter Henderson and Matthew Lewis)

Tesla's robotaxi to face questions, scrutiny at unveiling this week

SAN FRANCISCO, Oct 8 (Reuters) - Tesla (TSLA.O), opens new tab faces a watershed moment on Thursday when CEO Elon Musk takes the stage at the Warner Bros Hollywood studio to unveil much-delayed plans for a robotaxi, a project that has reignited the electric vehicle maker's stock, despite cooling expectations for EV growth. Musk has said Tesla's robotaxi product - called a Cybercab - will be a new model of vehicle that can drive itself and work on a Tesla ride-hailing platform. Tesla also will allow owners to make money off their cars by putting them on the ride-hailing network as autonomous cabs, which he has called a "combination of Airbnb and Uber." Advertisement · Scroll to continue Tesla's relies on cameras and artificial intelligence to drive current cars, with driver supervision but without the costly additional hardware associated with radar systems and lidar technology that other robotaxi players use. Musk expects that improving this technology will let him crack a still-nascent and tightly regulated industry that has resulted in billions of dollars in losses for others. Advertisement · Scroll to continue Investors, attracted by Musk's estimate that Tesla's robotaxi business could drive the company's valuation to $5 trillion from $750 billion now, want to see a prototype and learn how quickly Musk can mass-produce it, at a profit. They want to understand regulatory hurdles and how FSD, still categorized as a type of partial automation, can become safer than a human driver. "They need to get going because this has been sort of discussed, rumored, talked about and announced in various forms for a while," said Elliot Johnson, chief investment officer at Evolve ETFs, which manages investments in Tesla. He does not expect anything announced on Thursday to have a financial impact for one to two years. Musk said in 2019 he was "very confident" the company would have operational robotaxis by the next year. This year he shelved plans for a new, affordable vehicle in a sharp pivot to robotaxis. Tesla "should be thought of as an AI robotics company," not a carmaker, he said. Few observers, if any, expect a fully functioning product. "We believe the robotaxi event will be long on vision, and short on immediate deliverables or incremental revenue drivers," Bernstein analyst Toni Sacconaghi said in a research note. "The company has a track record - particularly in FSD - of being overly optimistic and there is significant devil in the details." Tesla could also give specifics on cheaper versions of its current lineup as well as update investors on its humanoid robots, Optimus, he said. HIGH EXPECTATIONS AND RISK Hopes are high ahead of the event - called "We, Robot" in an apparent nod to the "I, Robot" collection of science-fiction short stories by American writer Isaac Asimov. Tesla shares - hurt in recent years by worries EV rivals with cheaper and fresher models are eating in to its market share - are up nearly 50% since April when Musk announced the shift to robotaxis. Still, expectations of volatility in Tesla's stock over the next 30 days are close to a two-year high, driven primarily by uncertainties around the robotaxi event, according to options data from Trade Alert. Bringing self-driving vehicles to market has proven time-consuming and costly for other companies. Alphabet's (GOOGL.O), opens new tab Waymo is the only U.S. firm operating uncrewed robotaxis that collect fares. Others still in the race include General Motors' (GM.N), opens new tab Cruise - re-launching robotaxis with a safety driver after an accident last fall forced it to halt operations - and Amazon's (AMZN.O), opens new tab Zoox, which is expanding testing of its self-driving taxis that come without steering wheels and pedals. To keep Tesla's costs in check, Musk has decided to steer clear of sensors beyond cameras and he could potentially develop the first generation of Cybercab on its existing platform that runs the Model 3 and the Model Y. Tesla also has learnings from the data it collects from millions of vehicles. But investors and analysts said leapfrogging to high levels of automation that do not require driver supervision from its current FSD technology - which has come under increased regulatory and legal scrutiny with at least two fatal accidents - will not be easy. "We think this is still several years away and numerous technological hurdles, safety tests, and regulatory approvals are still standing in the way," CFRA Research analyst Garrett Nelson said, highlighting "an increasing disconnect between the stock's lofty valuation and the reality that Tesla's earnings growth has hit a wall." Reporting by Abhirup Roy in San Francisco; Additional reporting by Akash Sriram in Bengaluru and Saqib Ahmed in New York; Editing by Ben Klayman, Peter Henderson and Matthew Lewis Our Standards: The Thomson Reuters Trust Principles., opens new tab

Tesla's Elon Musk heads to Hollywood to unveil his robotaxi - and face a long list of questions

Tesla faces a watershed moment on Thursday when CEO Elon Musk takes the stage at the Warner Bros Hollywood studio to unveil much-delayed plans for a robotaxi, a project that has reignited the electric vehicle maker's stock, despite cooling expectations for EV growth. Musk has said Tesla's robotaxi product - called a Cybercab - will be a new model of vehicle that can drive itself and work on a Tesla ride-hailing platform. Tesla also will allow owners to make money off their cars by putting them on the ride-hailing network as autonomous cabs, which he has called a "combination of Airbnb and Uber." Tesla's Full Self-Driving software relies on cameras and artificial intelligence to drive current cars, with driver supervision but without the costly additional hardware associated with radar systems and lidar technology that other robotaxi players use. Musk expects that improving this technology will let him crack a still-nascent and tightly regulated industry that has resulted in billions of dollars in losses for others. Investors, attracted by Musk's estimate that Tesla's robotaxi business could drive the company's valuation to $5 trillion from $750 billion now, want to see a prototype and learn how quickly Musk can mass-produce it, at a profit. They want to understand regulatory hurdles and how FSD, still categorized as a type of partial automation, can become safer than a human driver. "They need to get going because this has been sort of discussed, rumored, talked about and announced in various forms for a while," said Elliot Johnson, chief investment officer at Evolve ETFs, which manages investments in Tesla. He does not expect anything announced on Thursday to have a financial impact for one to two years. Musk said in 2019 he was "very confident" the company would have operational robotaxis by the next year. This year he shelved plans for a new, affordable vehicle in a sharp pivot to robotaxis. Tesla "should be thought of as an AI robotics company," not a carmaker, he said. Few observers, if any, expect a fully functioning product. "We believe the robotaxi event will be long on vision, and short on immediate deliverables or incremental revenue drivers," Bernstein analyst Toni Sacconaghi said in a research note. "The company has a track record - particularly in FSD - of being overly optimistic and there is significant devil in the details." Tesla could also give specifics on cheaper versions of its current lineup as well as update investors on its humanoid robots, Optimus, he said. HIGH EXPECTATIONS AND RISK Hopes are high ahead of the event - called "We, Robot" in an apparent nod to the "I, Robot" collection of science-fiction short stories by American writer Isaac Asimov. Tesla shares - hurt in recent years by worries EV rivals with cheaper and fresher models are eating in to its market share - are up nearly 50% since April when Musk announced the shift to robotaxis. Still, expectations of volatility in Tesla's stock over the next 30 days are close to a two-year high, driven primarily by uncertainties around the robotaxi event, according to options data from Trade Alert. Bringing self-driving vehicles to market has proven time-consuming and costly for other companies. Alphabet's Waymo is the only U.S. firm operating uncrewed robotaxis that collect fares. Others still in the race include General Motors' Cruise - re-launching robotaxis with a safety driver after an accident last fall forced it to halt operations - and Amazon's Zoox, which is expanding testing of its self-driving taxis that come without steering wheels and pedals. To keep Tesla's costs in check, Musk has decided to steer clear of sensors beyond cameras and he could potentially develop the first generation of Cybercab on its existing platform that runs the Model 3 and the Model Y. Tesla also has learnings from the data it collects from millions of vehicles. But investors and analysts said leapfrogging to high levels of automation that do not require driver supervision from its current FSD technology - which has come under increased regulatory and legal scrutiny with at least two fatal accidents - will not be easy. "We think this is still several years away and numerous technological hurdles, safety tests, and regulatory approvals are still standing in the way," CFRA Research analyst Garrett Nelson said, highlighting "an increasing disconnect between the stock's lofty valuation and the reality that Tesla's earnings growth has hit a wall."

Tesla Robotaxi Day Preview: Move Over Autonomous Vehicles, Analyst Says This 'Positive Catalyst' Could Be More Important - Tesla (NASDAQ:TSLA)

An analyst says several items outside of the robotaxi unveiling could be catalysts for the stock. The highly anticipated Tesla Robotaxi Day from Tesla Inc TSLA on Oct. 10 will likely see the unveiling of robotaxis and demos, but analysts think that several other unannounced items could be bigger catalysts for the stock. The Tesla Analysts: Cantor Fitzgerald analyst Andres Sheppard maintained a Neutral rating with a $245 price target. Stifel analyst Stephen Gengaro reiterated a Buy rating with a $265 price target. Read Also: Elon Musk Vs. McDonald's: Tesla Fans Wanted Collaboration, Instead They Get New Product Launch Competing With Robotaxi Day Cantor Fitzgerald on Tesla: Robotaxi Day on Oct. 10 could showcase Tesla's autonomous capabilities, Sheppard said in a new investor note. "We continue to believe that TSLA will roll out Robotaxi in phases, first in select markets and then expand over time," Sheppard said. The analyst highlighted the fact that regulations for self-driving cars vary by state with 29 states plus Washington, D.C., previously passing legislation on autonomous vehicles. Sheppard said California has been the leader in autonomous vehicle regulations while states such as New York require a human driver present in vehicles testing the technology. Tesla's vehicle delivery for the third quarter beat estimates, but energy storage figures disappointed, the analyst added. The analyst said electric vehicles continue to cost more than traditional vehicles, with August figures coming in at an average of $56,574 and $47,000, respectively. "We expect the delta between prices to continue in 2025 and 2026, with several EV OEMs introducing lower-priced vehicles into the market." Did You Know? Congress Is Making Huge Investments. Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool Stifel on Tesla: While most analysts and investors are looking at vehicles at Tesla's Robotaxi Day, Gengaro shared a key item that could be highlighted at the event. "We expect the company to unveil a concept car version of a Robotaxi. While this will likely be well-received, we believe incremental information on Full Self-Driving technology will be a critical element to the event," Gengaro said. The analyst said they are confident in Tesla's AI-based FSD technology and think the FSD details could be "an important part of the stock price reaction." Gengaro noted Tesla CEO Elon Musk said the event would be "one for the history book," which could imply that items such as AI, FSD and Robotaxi will all be highlighted. Tesla unveiling a lower-priced electric vehicle model at the event is another speculated item to watch, Gengaro added. "We believe details on vehicle specifications, price, and timing would be a plus and provide a positive catalyst for the shares." Gengaro also said that Optimus could make an appearance or be part of an update to investors at the event. The analyst's $265 price target is based on a sum-of-the-parts valuation with the core business worth $197 per share, FSD worth $57 per share and Robotaxis worth $11 per share. TSLA Price Action: Tesla stock is down 1.94% to $245.22 on Monday versus a 52-week trading range of $138.80 to $271. Tesla stock is down 2% year-to-date in 2024. Read Next: How Many EVs Has Tesla Delivered, Produced Each Quarter? A Look At The Results Since 2019 Photo: Shutterstock Market News and Data brought to you by Benzinga APIs

Tesla's Elon Musk will soon reveal robotaxi plans. Why some analysts are keeping their expectations low

Tesla faces a watershed moment on Thursday when CEO Elon Musk takes the stage at the Warner Bros Hollywood studio to unveil much-delayed plans for a robotaxi, a project that has reignited the electric vehicle maker's stock, despite cooling expectations for EV growth. Musk has said Tesla's robotaxi product -- called a Cybercab -- will be a new model of vehicle that can drive itself and work on a Tesla ride-hailing platform. Tesla also will allow owners to make money off their cars by putting them on the ride-hailing network as autonomous cabs, which he has called a "combination of Airbnb and Uber." Tesla's Full Self-Driving software relies on cameras and artificial intelligence to drive current cars, with driver supervision but without the costly additional hardware associated with radar systems and lidar technology that other robotaxi players use. Musk expects that improving this technology will let him crack a still-nascent and tightly regulated industry that has resulted in billions of dollars in losses for others.

Robotaxi Day to kick off 'new era of growth' for Tesla, Wedbush says By Investing.com

Investing.com -- Tesla (NASDAQ:TSLA) is set to host its much-anticipated "We, Robot" Robotaxi event next Thursday, October 10th, at the Warner Bros. movie studio in Los Angeles, after the market closes. Analysts from Wedbush believe Robotaxi Day could potentially be a pivotal moment for Tesla and Elon Musk, signaling a "new era of growth ahead" focused on autonomous driving, Full Self-Driving (FSD), and AI. "We continue to believe Tesla is the most undervalued AI name in the market and we expect Musk & Co. to unveil some 'game-changing' autonomous technology at this event next week," analysts said in a Monday note. They expect the event to provide detailed updates on Tesla's rumored Robotaxi, possibly named the "Cybercab," as well as developments in its Next-Gen platform and advancements in FSD and AI. Wedbush also anticipates Tesla will reveal its strategy for rolling out Robotaxi in phases over the next year. Key projections on the scaling of the Cybercab, cost-per-mile estimates, the launch of a Tesla ride-share app, and a Generation 1 demonstration of its breakthrough urban transportation technology are expected as well. "With very few industry events as widely anticipated as this, we believe Musk will address the near-term pain points seen by investors and the company's long-term vision as Tesla goes through its second transformation not seen since the Model 3/Y production overhaul," analysts noted. They "firmly believe" that Tesla remains a leader in robotics and AI rather than just an electric vehicle (EV) maker. Tesla's recent release of FSD version 12.5 in September brought significant updates, and FSD version 13 is expected before the end of the year, with promises of a 6x improvement in miles-per-intervention, up from 3x currently in v12.5. Furthermore, Tesla's proprietary neural network remains a focal point. Analysts said this update is expected to introduce features like autonomous parking and reversing. Updates on the company's humanoid robot, Optimus, are also anticipated, with the company targeting external sales of the robots by 2026. Wedbush believes this marks a "pivotal time for Tesla" as it unveils the results of years of research and development on its Robotaxi project, while Musk and his team lay out the company's vision for the future. "We continue to believe AI/FSD represents a $1 trillion of value alone for Tesla over the coming years...next week it's time for Musk to have a watershed unveiling event to kick this AI era off at Tesla," the firm concluded. It reiterated an Outperform rating on Tesla stock and a price target of $300.

Tesla Analyst Sets The Stage For 'Game Changing' Robotaxi Event, Anticipates 'Seminal And Historical Day For Musk And Tesla' - Tesla (NASDAQ:TSLA)

"We look forward to this long-awaited event as the next evolution of transportation unfolds," Ives says. Wedbush analyst Dan Ives is out with a new note laying the groundwork for Tesla Inc's TSLA highly anticipated robotaxi event, expected to introduce new "game changing" technology. What To Know: Ives released a new note to clients late Monday, reiterating Tesla with an Outperform rating and price target of $300 ahead of the EV company's long-awaited "We, Robot" event set for Oct. 10. "We believe Robotaxi Day will be seminal and historical day for Musk and Tesla and marks a new chapter of growth around autonomous, FSD, and AI future at Tesla," Ives said in a note to clients. The Wedbush analyst anticipated several "game changing" updates and details surrounding Tesla's robotaxi platform, rumored to be called the "Cybercab." Ives laid out expectations for updates on scaling the Cybercab, overall costs per mile, a potential ride-share app and a first-gen demonstration. Given the anticipation surrounding the event, Ives expects CEO Elon Musk to address near-term investor concerns related to the robotaxi and explain the company's longer-term vision for the technology. Check This Out: Tesla EV Fire In Garage Goes Viral During Hurricane Helene, While Cybertruck Owners Engage Wade Mode Tesla is also likely to focus on recent breakthroughs with its full self-driving (FSD) software and AI initiatives. Tesla's FSD has now logged over 1.5 billion miles in Tesla's datacenters and the company's latest FSD release has been deemed a significant upgrade over its predecessor, Ives said. FSD 13 is expected to be released before the end of the year. The Wedbush analyst will be watching for any updates on the next release, which is expected to introduce new features like autonomous parking and reversing capabilities and offer a 6x improvement in miles-per-intervention. Ives also noted Tesla's Optimus bot continues to pique interest. Tesla is currently targeting sales of its humanoid robots by 2026. The analyst anticipates updates on Optimus development at next week's robotaxi event. "We believe this is a pivotal time for Tesla as the company prepares to release its years of Robotaxi R&D shadowed behind the curtains, while Musk & Co. lay out the company's vision for the future," Ives said. "We remain confident in the Tesla story which has proven successful many times over the years, and we look forward to this long-awaited event as the next evolution of transportation unfolds." TSLA Price Action: Tesla shares are up approximately 22% over the past month. The stock closed Tuesday up 0.45% at $261.63, according to Benzinga Pro. Read Next: Tesla Cybertruck Starts Receiving Highly Anticipated FSD Software Photo: Courtesy of Tesla. Market News and Data brought to you by Benzinga APIs

1 Wall Street Analyst Thinks Tesla Stock Is Going to $310. Is It a Buy? | The Motley Fool

Ahead of Tesla's long-awaited robotaxi event, investors are still focused on electric vehicle demand. Anticipation is building for Tesla's (TSLA 3.91%) upcoming "We, Robot" event on Oct. 10. Investors are expecting to hear from CEO Elon Musk about the next stage of growth for the electric vehicle (EV) company, especially in light of recent weakness in EV demand. The stock is trading down after Tesla reported its production and delivery numbers for the third quarter. The company delivered 462,890 vehicles, within the 460,000 to 465,000 range that analysts were expecting, but investors were likely hoping for better numbers. There are a lot of mixed opinions on Wall Street regarding Tesla stock, but Morgan Stanley analyst Adam Jonas is taking the long view on the company's prospects. He rates the shares with an overweight (buy) rating and a $310 price target, representing upside of about 27% from current levels. The analyst pointed out that over 80% of Tesla's expected 2024 revenue will come from EVs, but over time, the business could change. The company is making a big push into artificial intelligence (AI) to lay the groundwork for a robotaxi service, which could one day contribute a significant portion of Tesla's revenue and profit. As investors get a clearer picture of Musk's vision for Tesla in robotics and other AI initiatives, the stock could move higher. Indeed, Musk calls Tesla an AI and robotics company, not a car company. The analyst referenced the relationship between Tesla and xAI (also led by Musk), which developed the Grok conversational AI model. Musk acknowledged on the Q2 earnings call that Tesla has learned a lot from xAI. Tesla's upcoming event should provide a clearer picture of the company's future in AI, which Jonas apparently sees as a catalyst for the share price. However, the stock's performance heading into 2025 will still be heavily influenced by EV demand since that's still Tesla's primary business right now.

Wedbush sustains Outperform on Tesla shares, sees AI as key value By Investing.com

On Wednesday, Wedbush reiterated its Outperform rating on Tesla (NASDAQ:TSLA) shares, maintaining a $300.00 price target. The firm's positive stance is based on the potential value of Tesla's advancements in artificial intelligence (AI) and Full Self-Driving (FSD) technology. According to Wedbush, these innovations could represent a $1 trillion opportunity for Tesla in the coming years. The anticipation is building for Tesla's upcoming Robotaxi Day, set to take place next week in Los Angeles. Wedbush analysts plan to attend the event, which is expected to be a significant milestone for Tesla as it showcases its progress in AI. The event is seen as the beginning of a new era for the company in the realm of autonomous driving. In addition to the upcoming event, there is also anticipation for Tesla's third-quarter results and future guidance. The company is scheduled to report its financial performance on October 23, after the market closes. Wedbush's continued Outperform rating suggests confidence in Tesla's upcoming disclosures and its overall direction. The firm's commentary underscores the importance of AI and FSD in Tesla's strategy. As the electric vehicle maker prepares to reveal more details about its advancements in these areas, investors and industry observers are keen to understand the potential impact on Tesla's market position and financial performance. Tesla's focus on AI and autonomous driving technology is part of a broader industry trend towards vehicle automation. With its high price target and optimistic outlook, Wedbush signals its belief in Tesla's ability to lead and capitalize on these technological developments. In other recent news, Tesla reported Q3 vehicle deliveries of 462,890, a 6.4% increase from the previous quarter, but fell short of Wall Street's average delivery expectation of 469,828 vehicles. Despite facing competition from Chinese and European automakers, Tesla is preparing to unveil its robotaxi product, marking a shift towards AI-powered autonomous technologies. Canaccord Genuity maintained a positive stance on Tesla, expecting resilience amid broader auto industry challenges. The firm's confidence is bolstered by preliminary September sales data from several countries, hinting at the possibility of Tesla's delivery numbers exceeding their above-consensus estimate. However, Wells Fargo (NYSE:WFC) maintains an underweight rating on Tesla, citing potential declines in delivery growth and auto gross margin. Amid labor disputes, Tesla has seen an increase in its market share in Sweden, reaching 8.5% in 2024, up from 7.8% the previous year. In legal developments, Tesla and CEO Elon Musk won a dismissal of a shareholder lawsuit alleging fraud over self-driving technology claims. These are the recent developments for Tesla, providing a factual overview based on independent sources and clear evidence. As Tesla gears up for its Robotaxi Day and upcoming earnings report, InvestingPro data provides additional context to Wedbush's optimistic outlook. Tesla's market capitalization stands at an impressive $774.8 billion, reflecting its dominant position in the electric vehicle market and investor confidence in its future potential. The company's P/E ratio of 66.28 and Price / Book ratio of 12.4 indicate that investors are pricing in significant growth expectations, aligning with Wedbush's view on Tesla's AI and FSD opportunities. This is further supported by an InvestingPro Tip highlighting that Tesla is "Trading at a high earnings multiple," suggesting the market's willingness to pay a premium for Tesla's future prospects. While Tesla's revenue growth has slowed to 1.37% over the last twelve months, the company maintains a strong financial position. An InvestingPro Tip notes that Tesla "Holds more cash than debt on its balance sheet," providing financial flexibility to invest in AI and autonomous driving technologies. Investors should note that Tesla's stock has shown a "Strong return over the last month" with a 20.51% price increase, possibly reflecting growing anticipation for the Robotaxi Day event and upcoming earnings report. For those seeking a deeper dive into Tesla's financial health and market position, InvestingPro offers 19 additional tips, providing a comprehensive analysis to inform investment decisions in this rapidly evolving sector.