This analyst sees more turbulent times ahead for Tesla.
Long-time Tesla bear Toni Sacconaghi forsees more turbulent times ahead for the electric vehicle maker on the heels of its annual shareholder meeting. "Elon Musk reiterated several times that the next 12 months will be difficult for Tesla, and attributed his caution to macro issues, which is inconsistent with the relative constructive outlook for the broader auto industry," the Bernstein analyst wrote Wednesday in a note to clients.
mountain Tesla shares in 2023 Elsewhere, the analyst remains "skeptical" of bullish commentary on Tesla's Optimus robot and its long-term contribution to the company's value, citing "incredible technical complexity" and costs. Plans for the company's full self-driving capabilities marks another area of concern. Despite expectations by Musk for FSD acceleration, regulatory and consumer obstacles could take years to clear, Sacconaghi said.
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