Nasdaq TSLA Tesla

According to Bloomberg's New Energy Finance division, demand for electric vehicles (EVs) will explode in the coming years. The company estimates 730 million passenger EVs could be on the road by 2040, and considering that less than 8 million were sold in 2022, there will have to

General Motors on Tuesday withdrew its previous guidance for 2023 profits and near-term electric vehicle production as costs related to the United Auto Workers strikes jumped to $200 million a week during October.

Here are three stocks added to the Zacks Rank #5 (Strong Sell) List today:

General Motors on Tuesday withdrew its previous guidance for 2023 profits and near-term electric vehicle production as costs related to the United Auto Workers strikes jumped to $200 million a week during October.

For Tesla (NASDAQ: TSLA) investors, the future of your investment really depends on autonomous driving. After all, on the latest conference call with analysts, CEO Elon Musk said that while Tesla may look expensive for a car company, "success in this regard in the long term, I th

Closing arguments are set to begin on Tuesday in the first U.S. trial over allegations that Tesla's Autopilot driver assistant feature led to a death, and its results could help shape similar cases across the country.

Cybersecurity is a top priority for companies. It has to be, with an estimated 500 million cyberattacks worldwide last year. Endpoints (anything that connects to a network, such as laptops, desktops, and cellphones) are the source of 90% of successful attacks, according to IBM. T

(RTTNews) - Luxury electric car maker Tesla Inc. has received multiple subpoenas from the U.S. Department of Justice mainly seeking information regarding its electric vehicles and certain personal benefits, as revealed in its third-quarter filing with the U.S. Securities And Exch

2023 has been another roller-coaster ride for owners of Tesla (NASDAQ: TSLA) stock. Earlier this year (July actually), it was trading at $299. But the stock is on a downhill ride at the moment as the company reported a disappointing quarterly result last week. That sent its stock

China's Great Wall Motor said it had formally submitted responses to the European Commission's anti-subsidy investigation of Chinese-made electric vehicles (EVs), while calling for a fair and open trade environment.

While EVs may represent the future of mobility and transportation, Chinese sector manufacturer NIO ( NYSE:NIO ) may face a reckoning in its home market, just like other companies have suffered in their primary regions. Fundamentally, EV demand faces significant headwinds against broader economic pressures. Therefore, I am bearish on NIO stock until the dark clouds fade away. NIO Stock Suffers from a Harbinger What’s perhaps most worrisome for NIO stock and any other EV-related enterprise is the recent volatility in Tesla ( NASDAQ:TSLA ). Sparked by a disappointing performance in its third quarter of Fiscal Year 2023, Tesla appears to not have viable solutions. And while it’s fair to point out that the China market is obviously different from the U.S. market, Tesla is also the crown jewel of EV stocks. At this point, the house that CEO Elon Musk built is synonymous with electric-powered transportation. So, any miss with the alpha dog impugns competitors downstream. After several key corporate victories, Tesla finally looks vulnerable, which doesn’t help NIO stock because the headwinds are similar. Per TipRanks reporter Vince Condarcuri, the EV giant posted earnings per share of 66 cents, missing the consensus target of 73 cents per share. Although revenue did pop up 8.9% on a year-over-year basis, the tally of $23.35 billion also missed the consensus view by $790 million. Notably, Condarcuri wrote, “When comparing free cash flow and capital expenditures on a quarter-over-quarter basis, we can see that expenses climbed and profitability fell. Indeed, capital expenditures rose from $2.06 billion to $2.46 billion, while free cash flow dipped to $848 million from $1 billion.” That’s an awful look because Wedbush Securities analyst Daniel Ives remarked that Tesla’s Q3 earnings conference call was unusually tempered compared to the bravado broadcasted in prior calls. It appears that economic pressures – particularly stubbornly-high inflation – are taking their toll on Tesla. However, the same could be said about NIO stock. NIO Suffers the Same Demand Challenges as Rivals By logical deduction, equity valuations rise when investors anticipate improved forward financial performances. Therefore, many market participants likely reasoned that while Tesla’s price cuts earlier this year negatively impacted profitability, they also facilitated the possibility of revenue expansion. That’s not turning out to be the case, though, echoing concerns for NIO stock and other competitors. For one thing, despite Tesla’s price cuts, it lost ground in domestic market share. So, it’s not surprising that TSLA became volatile recently to reflect the broader loss in demand. However, it’s the same situation with NIO stock. In the trailing month, NIO dipped by around 9%, a symptom of slowing Chinese EV demand. Second, one of the major problems negatively affecting the U.S. EV market is the scourge of rising inventory. According to reports earlier this year, the nationwide supply of EVs on dealership lots skyrocketed by nearly 350% to more than 92,000 units. With basically three months’ worth of inventory, a reasonable conclusion can be made: fewer drivers want or can afford EVs. Sadly for NIO stock, a similar threat is emerging in the underlying Chinese market. Per Bloomberg, older EVs are piling up everywhere as newer models offer more capabilities. While not exactly the same challenge, the implications yield a similar result — fewer customers for new EVs. The Curse of New Tech With the large-scale abandonment of older EVs in China, this framework also points to the broader curse of new technologies. As a relatively new concept, EVs can expect greater improvements in performance and utility compared to combustion-powered cars, which represent a matured innovation. However, this also hurts immediate sales. After all, why buy a new EV today when next year (or in a few short years later), the platform will offer more performance and more range, likely at lower prices? Chinese consumers may have smartened up seeing all the abandoned first-gen EVs, which doesn’t bode well for NIO stock. Is NIO Stock a Buy, According to Analysts? Turning to Wall Street, NIO stock has a Moderate Buy consensus rating based on six Buys, four Holds, and zero Sell ratings. The average NIO stock price target is $14.24, implying 87.6% upside potential. The Takeaway Although Tesla’s underperformance recently captured the EV spotlight, that offers no reprieve for NIO. Underscoring the volatility in the broader sector is fading demand. With neither the Chinese market nor NIO offering a contrarian positive distinction, betting on NIO stock as a TSLA alternative would likely be risky. Disclosure

Electric vehicle (EV) giant Tesla ( NASDAQ:TSLA ) has long been the market leader. Though the EV sector is overcrowded, no competitor has managed to overtake its market position or its relentless pursuit of innovation. This year's macro headwinds posed some challenges for the EV maker, which reported lackluster Q3 earnings. However, many Wall Street analysts see a silver lining, with margins improving in the near future. As a result, I am also bullish on TSLA stock now. Tesla offers a wide range of EVs that cater to various segments, ranging from luxury sedans to affordable SUVs. The stock has dropped 26.5% from its 52-week high due to price cuts that have resulted in margin compression this year. Yet, it has gained 96.1% year-to-date, outperforming the S&P 500's ( SPX ) 11% gain. Short-Term Headwinds Strained Tesla’s Q3 Tesla missed analysts' revenue and earnings consensus estimates in the third quarter. Total revenue of $23.4 billion was around a 9% year-over-year increase, falling $794.4 million short of analysts’ expectations. Further, earnings per share (EPS) came in at $0.66, missing analysts’ consensus estimate by $0.07. Globally, Tesla delivered 435,059 vehicles in Q3, down sequentially from 466,140 in Q2. Still, deliveries grew by nearly 27% year-over-year, and Tesla assured investors that it would hit its target of 1.8 million vehicle deliveries for the year. This year, the company shifted its focus to volumes amid rising interest rates. It had to make price cuts on its EVs, which took a toll on its margins. Price cuts, rising production expenses for the Cybertruck, plus artificial intelligence (AI) and other research and development (R&D) projects all contributed to margin compression in the third quarter. In the Q3 earnings call, CEO  Elon Musk stated that there could be production challenges for the Cybertruck, but he still expects Tesla to produce 250,000 Cybertrucks per year by 2025. However, Musk also said that the company’s Energy and Service division is becoming its “highest-margin business,” contributing “over $0.5 billion to quarterly profit.” Energy generation and storage revenue jumped a whopping 40% year-over-year in Q3. The Long-Term Outlook is Bright The company maintains a strong liquidity position. It ended the quarter with $26.1 billion in cash, cash equivalents, and investments, and free cash flow of $0.85 billion. These funds can be used for future projects. Tesla remains committed to maintaining a strong balance sheet while weathering the tough economic environment. Tesla’s efforts to reduce costs, ramp up production, and invest in AI will position it well for long-term growth. Additionally, Morgan Stanley ( NYSE:MS ) analyst  Adam Jonas believes Tesla's AI-powered Dojo supercomputer has the potential to unlock $500 billion in economic value. Dojo could provide Tesla with a moat, giving it a competitive advantage over its peers. The analyst has the highest target price of $380 (implying 79.2% upside potential) for TSLA with a Buy rating. What Are Analysts Saying About Tesla? Wall Street’s opinion on Tesla’s Q3 earnings was a mixed bag. Bernstein analyst Toni Sacconaghi found the Q3 results to be weak. Tesla’s “hesitancy” about its Mexico factory worried the analyst, as he believes the facility could have produced a lower-cost Model 2. The analyst rates the stock as Sell, with a $150 price target. Meanwhile, on a more optimistic note, RBC Capital Markets analyst  Tom Narayan said, “Investors will likely focus their attention on the cautious commentary on 2024 and on the potential delay of the Next Gen product, but we suspect this could be all part of a master pivot from being a volume car maker to becoming a Tier 1 supplier to [original equipment manufacturers].” He added, “Tesla’s cars can still be a proof of concept and make money on selling [Full Self-Driving] subscriptions, but we think selling power electronics, batteries, charging, and ultimately FSD, could be far more profitable.” The analyst has a Buy rating with a target price of $301 (41.9% upside potential). What’s more, five-star-rated Piper Sandler analyst Alexander Potter believes that Tesla’s margins will improve as the cost of goods sold per unit continues to rise, which could help margins recover. Tesla's Energy segment also impressed the analyst. The analyst rates the stock a Buy with a target price of $290. He referred to TSLA stock as his “favorite holding over the next year (and beyond),” even as it's "tricky to identify upside catalysts in the next few months.” Robert W. Baird analyst Ben Kallo also shared a similar opinion about Tesla’s Energy and Services business driving margins upward. He has a Buy rating with a target price of $300 for TSLA. Looking ahead, for 2023, analysts expect Tesla’s revenue to jump 19.6% year-over-year to $97.4 billion, further increasing to $121.4 billion in 2024. What is the Price Target for TSLA Stock? Overall, out of the 33 analysts covering TSLA stock, 14 recommend a Buy, and 14 recommend a Hold, while five say it’s a Sell. The  average Tesla stock price target is $253.18, implying 19.4% upside potential. The Takeaway for Tesla Stock Summing up, Tesla has remained at the forefront of revolutionizing the way we perceive and use electric vehicles, with the goal of making electric mobility a mainstream choice. Despite the near-term pressure on its margins, most analysts believe the company will be able to recover in the long haul as macro-economic headwinds wane. The company is poised to grow as EV adoption advances, making it a promising EV pick. Disclosure

Growing rumors that Tesla TSLA boss Elon Musk was visibly upset after the company missed its third quarter top and bottom-line expectations last Wednesday may have investors on edge about buying TSLA shares after the recent dip.

The 35-year-old governor of Mexico's industrial powerhouse announced on Monday he will take the first step toward a centrist independent presidential bid in next year's election, a move that could divide opposition to the ruling leftist party.

The "Magnificent Seven" typically refers to the 1960 Western film, but today’s stock market investors recognize the term as the set of seven big tech stocks, namely Apple AAPL, Microsoft MSFT, Alphabet GOOGL, Amazon AMZN, Nvidia N

Meta Platforms will release its Q3 earnings this week. Here's a preview of Wall Street's earnings expectations, plus the 7 things that investors should watch for in the report.

In early trading on Monday, shares of Intuitive Surgical topped the list of the day's best performing components of the Nasdaq 100 index, trading up 3.8%. Year to date, Intuitive Surgical registers a 4.4% gain.

Tesla (TSLA) is one of the stocks most watched by Zacks.com visitors lately. So, it might be a good idea to review some of the factors that might affect the near-term performance of the stock.

The "Magnificent Seven" typically refers to the 1960 Western film, but today’s stock market investors recognize the term as the set of seven big tech stocks, namely Apple AAPL, Microsoft MSFT, Alphabet GOOGL, Amazon AMZN, Nvidia N

The NASDAQ 100 Pre-Market Indicator is down -49.17 to 14,511.71. The total Pre-Market volume is currently 105,075,527 shares traded.The following are the most active stocks for the pre-market session: ProShares UltraPro Short QQQ (SQQQ) is +0.23 at $21.31, with 6,605,802 shares