Alphabet, Wall Street and Tesla
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Wall Street looks bearish on Tesla at first glance. And it is -- at least on average. But plenty of analysts and everyday investors remain extremely bullish.
Tesla had previously reported deliveries of more than 384,000 vehicles in the quarter—a drop of more than 13% from the previous year—with production holding steady at just over 410,000 vehicles. This marks the second quarter in a row of reduced year-over-year deliveries.
Tesla points out early progress on robotaxis and bots, as revenue from electric vehicles plummets.
Tesla targets autonomous ride-hailing for half of U.S. by year-end while ramping Optimus and energy initiatives. Chipotle signals confidence. Trump to visit Federal Reserve.
Tesla reported second-quarter results after Wednesday's closing bell, unveiling profits and sales in line with Wall Street expectations. Losses mounted for the stock, however, as the company's call with analysts sowed more doubts than offered answers about Tesla's prospects and Chief Executive Elon Musk said he could see potential for "a few rough quarters" ahead.
The fallout from Elon Musk’s plunge into politics a year ago is still hammering his Tesla business as both sales and profits fell sharply again in the latest quarter.
2don MSN
Tesla said on Wednesday it has built initial versions of an affordable car, a move likely meant to stem the steep decline in sales the company has experienced in markets across the world.