Tesla (NASDAQ: TSLA) just scored a new BUY recommendation.
Morgan Stanley is raising their price target from $250 to $400 per share.
Analysts predict Tesla’s Artificial Intelligence initiative could add $500 billion to the company’s market cap.
Tesla’s AI initiative is part of Elon Musk’s new Master Plan.
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In July Tesla began production of its Dojo supercomputer.
Tesla created Dojo to improve its autonomous self-driving cars. The supercomputer crunches video and driving data from Tesla’s fleet of EVs.
It aims to help Elon Musk make fully autonomous driving a reality.
Morgan Stanley is bullish on Tesla’s new supercomputer – it’s the primary reason for the stock upgrade.
Here’s an excerpt from the research report…
“The autonomous car has been described as the mother of all AI projects. In its quest to solve for autonomy, Tesla has developed an advanced supercomputing architecture that pushes new boundaries in custom silicon and may put Tesla at an asymmetric advantage in a $10 trillion total addressable market.”
Analyst Adam Jonas says that Dojo could add $500 billion to Tesla’s market value.
Tesla currently trades at $274 per share – with a market value of around $850 billion.
Tesla stock was up 10% in trading after the upgrade.
There’s a great debate around Tesla’s stock. And investors typically have one of these views of the stock…
- Bearish Case: Tesla is an EV automaker. The company was the first to commercialize EV. Legacy automakers will steal market share from Tesla and the profit margins will erode. Tesla stock should trade at a low P/E multiple like GM or Ford.
- Bullish Case: Tesla is a technology platform with unlimited potential. The company will dominate the EV market and is expanding into solar, energy storage, supercomputers, AI and robotics. Tesla deserves a high P/E multiple due to its rapidly growth and continued evolution in high growth markets.
I’m a huge believer in the “bullish case” for Tesla.
Sure, Tesla makes the best EVs on the market. The cars are widely popular and outselling models from every other automaker.
Unlike every other automaker – Tesla makes almost everything in the car. They make the batteries. Drivetrain. Software. Charging technology. And the list goes on and on.
Yet Tesla is much, much more than an automaker.
Tesla operates the world’s largest EV charging network. They produce battery storage solutions for homes, businesses and even the power grid. They’re developing a robot that will replace people in its factories.
Plus, Tesla is on the cusp of offering fully autonomous driving. And they’ve just released a new supercomputer to compete with Nvidia (NASDAQ: NVDA).
It’s simply misleading to compare Tesla to Ford or GM – simply because all three companies produce EVs.
Now is NOT the time to bet against Elon Musk and Tesla.
Elon Musk recently revealed his new Master Plan 3.0.
Inside Elon reveals his unique and groundbreaking plans for Tesla in the next 10 years. It’s creating a timely situation for investors who jump onboard right now.
If you’re BULLISH on Tesla you’ve got to watch this now.
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