A man checks his mobile phone while he charges a Tesla electric car at a public charging point in Sant Cugat del Valles, near Barcelona, Spain, September 17 2021. Picture: ALBERT GEA/REUTERS
“We believe an evolving green tidal wave will push shares of Tesla higher despite the near-term chip shortage with 3Q earnings this week another positive catalyst,” wrote Wedbush analyst Daniel Ives in a note from Sunday. Tesla is set to report its third quarter earnings results on October 20. It’s one of the very few global auto stocks to enjoy upward revisions in earnings estimates from analysts in the last one month, while most of the other automakers faced cuts due to the chip shortage.
Bullish investors and analysts, on the other hand, say Tesla should not be compared to its peers at all. It is rather more like a technology company, and is correctly valued accordingly.
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