Tesla CEO Elon Musk provided three surprising forecasts in the earnings call on Wednesday (19), including the fourth quarter delivery forecast, Tesla’s valuation surpassing Apple and Saudi Aramco combined, and the Twitter acquisition prospects. .
Tesla reported mixed third-quarter earnings after the bell on Wednesday, with revenues of $ 21.45 billion, missing Refinitiv’s projected $ 21.96 billion, adjusted earnings per share of $ 1.05, exceeding expectations and a gross margin unchanged from the previous quarter at 27.9%, lower than the annual growth rate of 30.5% in the same period last year. Tesla (TSLA-USA) Wednesday closed 0.84% in the red and shares plunged more than 4% after closing time.
Tesla CEO Elon Musk made a series of predictions in Wednesday’s earnings call (19) as follows:
Fourth quarter deliveries are expected to hit a record high
Tesla produced more than 365,000 vehicles and delivered more than 343,000 vehicles in the third quarter of 2022, breaking records but not meeting analysts’ expectations. Tesla said that due to hectic logistics, supply chain problems, and high freight rates, securing vehicle shipments has become a challenge.
“We are looking forward to a record fourth quarter and it looks like we will have an epic year end,” Musk said during Wednesday’s earnings call.Tesla had excellent demand in the fourth quarter and plans to sell “every EV” we make for the foreseeable future。 」
Musk mentioned rapid progress in manufacturing 4680 batteries, a beta for all North American users “Full Self-Driving” (FSD) is expected in the fourth quarter, and a possible $ 5 to $ 10 billion Treasury stock plan.
Tesla’s market value is likely to exceed that of Apple and Saudi Aramco combined
Musk also offered his views on Tesla’s potential future value, predicting: “It is possible that Tesla’s valuation is higher than that of Apple and Saudi Aramco combined, which does not mean it will happen, it does not mean that it is very easy to do. In fact, I think it will be very difficult and will require a lot of work, some very creative new products, massive expansion and luck. “
This isn’t the first time Musk has made similar remarks. Musk once said at the February 2015 earnings conference: “Give me ten years and Tesla can catch up with Apple in terms of market value.”
apple (AAPL-USA) currently has a market value of $ 2.31 trillion, Saudi Aramco has a market value of around $ 2.09 trillion, and Tesla has a market value of $ 695.756 billion, still far behind these two companies.
Twitter has enormous potential
Asked about the Twitter acquisition, Musk replied, “The Twitter acquisition is on track and I’m excited about the status of Twitter, even though I and other investors are overpaying, in a way. Twitter is a an asset that has “shrunk” in value over a long period of time, but has incredible potential. “
Twitter (TWTR-USA) closed 0.077% higher at $ 51.83 per share on Wednesday, still slightly below Musk’s $ 54.20 per share, and rose more than 1% after the market, propelled by Musk’s speech. .
Asked whether Tesla, SpaceX and Twitter will eventually merge to reduce risk? Musk replied: “I’m not Warren Buffett, I want to work and design products. I’m an engineer, manufacturer and technologist, everyone actually works, designs and develops products, at least for now, there are no obvious mergers and acquisitions. Company reasons. “
