TSLA is down 58% year-to-date as tech stocks take a hit across the board, along with other market trends.
Dear readers, the cold winds of winter are finally upon us, and as the holiday season approaches, it is imperative to look forward to what the future holds. In today’s episode of the Coinspeaker Advent Calendar, we’ll take a look Tesla Inc (NASDAQ: TSLA ), one of the world’s top electric vehicle manufacturers today. Is Tesla stock a good buy for 2023? How well will the stock grow over the next 12 months? What are the company’s fundamentals and growth potential? Check out these and more in this article.
Tesla and the substrates for growth in the EV world
Most advanced economies today are pushing for sustainability in climate change-related efforts. Of the many ways to achieve this agenda, switching to electric vehicles remains the most time-feasible option and many car manufacturing outfits are pushing this frontier.
Overall, Tesla remains the largest player to date as measured by the total number of electric vehicles delivered globally per quarter. Data from EV-Volumes.com shows Tesla is the leading EV manufacturer in terms of total battery electric vehicles (BEVs) sold in the first half of 2022, with deliveries reaching 550,000.
Being at the forefront of the EV industry at the moment is a testament to the enormous investment in research and development for the EV company, which will be fully operational in the next decade.
Demand for BEVs manufactured by Tesla is increasing as the company is considered the most desirable option in terms of performance and durability. While the competition continues to grow, Tesla is constantly innovating and able to spread its operations across key geographical areas.
From the Gigafactory in Shanghai to serve China, the largest EV market after the US, to the Berlin plant to serve its customers in the UK and the European Economic Area (EEA), Tesla shows that it is preparing to meet future needs.
Apart from the basic model to reach more people in different regions, Tesla also has Towards full self-driving (FSD) technology, a technology that has been around for a while now. Apart from the company’s model of using FST in its own cars, it can also be used by other competitors, which will help it generate more revenue in the long run.
So how will Tesla perform in 2023?
Much has been said about Tesla regarding its role in today’s EV world and its innovative developments to beat its leading competitors.
TSLA is down more than 58% year-to-date as tech stocks take a hit across the board, along with other market trends. Top 5 investment firms, drawing average Tesla price projections over the next 12 months He shared Their price targets are as shown below:
- RBC Capital – $225
- Goldman Sachs – $235
- Deutsche Bank – $355
- Morgan Stanley – $330
- Citigroup – $176
Deutsche Bank and Morgan Stanley’s gains in stocks are explained by the previous reasons. However, the dire forecast given by Citi stems from erratic trends observed with the CEO Elon Musk Many believe him Sale of Fixed Shares And the distraction with Twitter doesn’t allow the company to manage in a timely manner.
Nevertheless, we believe that as a reader of this Advent Calendar series, if you decide to invest in stocks, you should have enough information to start your own research.
Stay tuned as tomorrow brings another exciting episode!