Forget Tesla: This Stock Should Replace It in the "Magnificent Seven"
It may be one of the so-called "Magnificent Seven" stocks, but (NASDAQ: TSLA) hasn't been so magnificent of late. Share prices of the electric vehicle (EV) maker are down nearly 40% since July and have been more than halved since their late-2021 peak. That weakness coincides with the rise of more serious competition and subsequent price cuts on Tesla-made EVs.
Connect the dots -- perhaps this electric vehicle company isn't quite as bulletproof as many investors once believed. Maybe it doesn't even deserve to be one of the Magnificent Seven.
If Tesla isn't deserving, what company might be a suitable replacement to keep the lucky number Seven intact? There's another heir-apparent name that I think could easily take Tesla's place (and maybe should have from the start). That stock is Taiwan Semiconductor Manufacturing (NYSE: TSM).
Source Fool.com
Tesla Inc Stock
Currently there is a rather positive sentiment for Tesla Inc with 56 Buy predictions and 26 Sell predictions.
As a result the target price of 249 € shows a positive potential of 49.5% compared to the current price of 166.56 € for Tesla Inc.
