Tesla Stock Forecast: Transforming the Future
This article was written by Talia Shakhnovsky, a Financial Analyst at I Know First.
Tesla Stock Forecast: Transforming the Future
“There is not a demand problem. Sales have far exceeded production…We have a decent shot at a record quarter on every level”
– Elon Musk, Tesla CEO at 6/11/2019 Annual Shareholder Meeting
Summary:
- Despite decreasing vehicle sales, global demand for electric vehicles is growing; Tesla is attempting to enter the global market by building a Gigafactory in China.
- From the first quarter of 2018 to the first quarter of 2019, Tesla’s revenue grew by 32.23%, surpassing automotive industry revenue (-1.61%). Tesla’s expected annual growth of 68% also exceeds the auto industry’s expected growth of 22%.
- At Tesla’s annual shareholder conference, CEO Elon Musk discussed continuing demand, Tesla’s acquisition of battery company Maxwell Technologies, and the new semi pickup truck among other developing technological advances like fully autonomous vehicles.
- Tesla’s financial statement supports a long term bullish outlook, with a potential June 2020 share-price of $333.
TESLA Logo – Source: Wikimedia
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