Tag Archives: tsla

Tesla Stock Quickly Reverses Lower As Analysts Doubt 2018 Target

Tesla Motors ( TSLA ) shot up after hours Wednesday in the wake of its quarterly report, but shares have quickly reversed lower in the stock market today . The luxury electric car maker says it will produce 500,000 cars annually by 2018, two years sooner than Tesla previously estimated. Deutsche Bank maintained its hold rating on Tesla and raised its price target to 290 from 280. The analyst says the 2018 production goal might be too optimistic, and sees 355,000 units produced that year. Meanwhile, Baird reiterated its outperform rating and raised its price target from 300 to 338, citing the improvement of Model X production issues and several upcoming catalysts. But the analyst also models a lower delivery count than Tesla for 2018, at 300,000. Tesla shares rose initially but quickly reversed lower, crumbling 3.3% intraday on the stock market today . The stock is dropping below the 200-day line and hitting its lowest level in more than a month. Tesla is now about 23% below its high reached last July. Mobileye Meanwhile, Tesla partner Mobileye ( MBLY ) beat quarterly earnings expectations early Thursday. But the maker of advanced driver assistance systems is breaking below its 50-day line, losing 5%, after finding support around that level in Wednesday’s session. Mobileye shares are trading at 45% below their high reached last August. Nvidia And Tesla chip supplier Nvidia ( NVDA ) is looking for support at its 50-day line for a second session, rising fractionally intraday. Shares are now extended about 6% from a buy point that Nvidia cleared in March, and about 6% below its all-time high reached a few weeks ago. Nvidia reports quarterly results next week.

Ludicrous Speed: Elon Musk Sees Tesla Making 1 Million Cars In 2020

Tesla Motors ( TSLA ) CEO Elon Musk predicted Wednesday that the automaker will make one million electric vehicles by 2020, double Tesla’s prior forecast. Musk said on a post earnings call with analysts that 1 million cars that year was his “best guess.” He said Tesla could hit that target using its lone Fremont, Calif., plant and its under-construction Gigafactory in Reno, Nevada, but added that such a strategy might not be optimal. Tesla moved up its prior target of 500,000 vehicles by two years to 2018. Musk said some 100,000-150,000 might be Model S or Model X, with the rest the yet-to-be released Model 3. For perspective, Tesla hopes to produce 80,000-90,000 vehicles this year, after delivering just 14,820 in the first quarter. Some analysts are skeptical that Tesla can ramp up to 500,000 in the next few years, let alone one million, especially at a high level of quality. Tesla faces complaints about errors — bad paint, doors not closing correctly, etc. — but there are few hard numbers about Tesla’s quality and reliability. Tesla touted that it just had its first error-free Model X production last Friday. But deliveries began in September. Before the market close, Tesla confirmed that two production chiefs were leaving the company. Musk was a little less confident on self-driving cars. He said that regulators will need “billions of miles” of mapping data to be convinced that autonomous vehicles are safe. Alphabet, Mobileye Join Crowded Autonomous Road Alphabet ( GOOGL ) this week reached a deal with Fiat Chrysler on self-driving cars. Alphabet’s self-driving unit will develop autonomous versions of Fiat Chrysler minivans. Mobileye ( MBLY ), which provides advanced camera-based driver assistance software to Tesla and several other automakers, reports earnings Thursday morning. Nvidia ( NVDA ), which makes chips for Tesla and other automakers, reports next week. Tesla stock rose about 3% in late trading Wednesday, but that’s after closing down 4.2% on the stock market today , undercutting its 50-day and 200-day moving averages. Mobileye closed down 2.6%, just above its 200-day. Nvidia slid 2.3%, ending just above its 50-day line. Both rose fractionally late.

Tesla Forecasts Production, Spending Hikes Amid Strong Demand

Tesla Motors ( TSLA ) expects to ship 20,000 cars in Q2, up 30% sequentially, and said capital expenditures will be 50% higher than previous guidance of $1.5 billion. The electric car maker is also bumping up its 500,000 unit build plan by two years to 2018 due to the “overwhelming demand” for the Model 3. Tesla lost 57 a share in Q1, deepening the 36-cent loss in last year’s Q1, and slightly beating consensus for a 58-cent per-share loss. This included a 7-cent positive impact from “unrealized gains from revaluation of our foreign currency transactions,” according to management’s letter to shareholders. Non-GAAP sales rose 45% to $1.6 billion, and GAAP sales totaled $1.15 billion. Analysts were expecting $1.6 billion. Tesla shares jumped 5.5% in late trading, after closing down 4% in the regular session. Tesla said “we remain confident that we can deliver 80,000 to 90,000 new Model S and Model X vehicles in 2016.” It added that it expects 30% gross margin on the Model S sedan and 25% on the Model X SUV by year-end. At the same time, it predicted a 20% to 25% operating-expense increase by year-end. Earlier Wednesday, Bloomberg broke the news that Greg Reichow , Tesla’s vice president of production, and manufacturing chief Josh Ensign will exit the company, bringing the number of vice presidents who’ve left so far this year to five. Reichow, who joined in 2011, was a particularly significant player at Tesla, having led a team responsible for “building an all-new manufacturing organization from the ground up and for making Model S and Model X a reality,” according to Chief Executive Elon Musk. Reichow’s departure was described as a leave of absence, but its length wasn’t specified. Bloomberg also cited an anonymous source saying that glitches in the launch of the Model X were tied to the executives’ departures, though Tesla denied this.