Here’s The Thing: With $TSLA we now have comps. BYD (EV’s, Batteries, Robotics, China) trades at 4x 2024E gross profits. Hyundai (EV’s, Level 4 FSD, Robotics) trades at 5x. $GOOG (AI,Robotaxis) trades at 10x, while $NVDA (AI Leader) trades at 26x. Tesla? Roughly 40x!
After estimating 2024 earnings of $7.25 per share 18 months ago, The Street now thinks Tesla will do just $2.56 of EPS in 2024. I am closer to $1.85
