Elon Musk Called Tesla an Artificial Intelligence (AI) Robotics Company. Does That Make It a Buy?
(NASDAQ: TSLA) recently reported its results for the first quarter, and the results were not great as the downturn seen in electric vehicle (EV) sales weighed on the company's results. Total deliveries fell 9%, while automotive revenue slipped 13% to $17.4 billion and overall revenue was down 9% to $21.3 billion. Meanwhile, earnings per share fell 47% to $0.45, and it saw cash outflows of $2.5 billion.
That's not a great start to the year. However, Tesla's stock nonetheless jumped 12% on the results.
Why is there a positive reaction to such lackluster results? Because CEO Elon Musk shifted the narrative on what type of company Tesla will become in the future.
Source Fool.com
Tesla Inc Stock
€160.94
0.600%
Currently there is a rather positive sentiment for Tesla Inc with 56 Buy predictions and 27 Sell predictions.
As a result the target price of 248 € shows a very positive potential of 54.09% compared to the current price of 160.94 € for Tesla Inc.
