NEW YORK (Nettavisen): Tesla and Elon Musk had a very tough 2022 where the stock suffered a piggy bank and fell by as much as 65 percent thanks to rising inflation and interest rate increases.
In addition, Elon Musk got a lot of flak in connection with his takeover of Twitter, and many thought it took far too much focus away from the job of managing Tesla.
Ler: Elon Musk makes a shocking prediction
– Just the start
2023, on the other hand, has been a big upswing for Tesla and Elon Musk, and the stock is up a whopping 95 percent so far this year.
At the beginning of January, the share was at 108 dollars, while on Friday it was at 201 dollars.
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And according to Wall Street veteran Keith Fitz-Gerald, it’s far from stopping there.
In an interview with CNBC he compares Elon Musk with the late Apple founder Steve Jobs.
– I think we have only seen the start of this, says Keith Fitz-Gerald.
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– Tesla at 300 dollars a share
– Anyone who bets against Elon Musk today could just as easily have bet against Steve Jobs back then. We know how this is going to play out. He just triggers an absolutely incredible transformation in every single industry he touches. He is not going to be stopped anytime soon, and he has more than enough money to do what he wants, says Fitz-Gerald.
The Wall Street veteran therefore believes that the Tesla share could soon reach $300 a share, which would mean an increase of around 44 percent from today’s price, writes Insider.
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Even if Fitz-Gerald compares Elon Musk to Steve Jobs, not everyone has the same amount left over for the Tesla boss.
In an earlier interview with CNBC, co-founder of the computer giant Apple, Steve Wozniak, claimed that Musk wants to be seen as a “cult figure” and was nowhere near reaching Steve Jobs.
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– Two million cars
But so far in 2023, Elon Musk is sailing with the wind. When Tesla delivered results for the fourth quarter at the end of January, they were able to show solid growth from the previous year.
The turnover ended at 24.3 billion dollars, or around 240 billion Norwegian kroner, which was a sharp increase compared to the last quarter in 2021, when it was 17.72 billion dollars.
Fourth-quarter earnings ended at $3.7 billion, up 59 percent from the same period last year, a result that sent the stock up nearly 11 percent on the same day the earnings were reported.
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On the same day, Elon Musk also made a startling and very optimistic prediction for 2023.
– If this is a year that goes smoothly, without any major interruptions in the supply chain or other major problems, then we have the potential to make two million cars this year. I think there will be demand for that as well,” Musk said.
The full-year delivery of cars in 2022 amounted to around 1.31 million.
– So far in January, we have received more orders than ever before at this time. Right now we are receiving almost twice as many orders as there is production capacity for, stated the Tesla boss.
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Rise on Wall Street
Tesla shares had a slight decline on Wall Street on Monday, ending down 1.1 percent.
Otherwise, Wall Street was characterized by an increase on Monday. The Dow Jones ended up 1.11 percent, the S&P 500 ended up 1.14 percent, while the Nasdaq ended up 1.48 percent.
