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covers both tesla and apple raised his target on tesla today so you're gonna have to choose now dan between two of your most beloved stocks yeah look i think this is it it's a fascinating development but it speaks to what we're seeing in the ev we're talking about a trillion dollar market when you look at apple and i continue to think it's a matter of when not if they get into evs likely through a collaborative partnership but i look at tesla i mean despite the selling the news in terms of the s p continues to be a golden age for ev we're seeing that both domestically as well as in china how do you read today's price action you think it's sell the news you don't think this is the beginning of a turn in tesla now people syria maybe more seriously considering or questioning its sky-high valuation now that it's made sort of the blue chip status of the s p 500 yeah it's a great question i view more knee-jerk and i think when you look at december numbers in terms of deliveries the trajectory especially with china that's the hearts and lungs of the bull story here going into next year i think we're right now three percent of overall autos going to 10 by 2025 in terms of ev and when you look at tesla right now in that ev you know market it's really tesla's world everyone else is paying rent and investors are continuing to own that theme right now they're the pure play look at china in terms of neo and others i think that's really just starting to morph into its next phase of growth dan why do people need to save gas money why do they need electric vehicles if they're not really going to be going anywhere for the next three to six months yeah and i think in the near term of course you know as we're seeing the semi lockdown that's going to be a bit constrained you know in terms of overall sales even though it's been tough on like the mail we've seen the last six nine months but when we look out 2021 especially in china i think they could be at 250 000 units for the year and that's the key right now that's why you know when you look at taos so we have thousand dollar bull case you know base case right now seven fifteen and it it's sort of a fork in the road situation as they execute in china that continues to be the core for ev in terms of where most of that growth is coming out but can you just justify the valuation dan for us and why does this stock deserve to be more valuable than what the top eight or nine global automakers when it represents less than one percent of sales i get there are big visions from elon musk and for investors but explain why why that more than what one thousand times earnings is deserved yeah and it's part of that bull bear you know emotional debate right now i continue to view tesla as an automaker but as a you know as a disruptive technology vendor that's the multiple it gets you look when they could do ten dollars of earnings call the next three to four years and i think they're trading in a different paradigm than traditional automakers and i think right now what you're starting to see is you will see gm ford and others you know if they have success i think gm will and ev you'll start to see some of that re-rating happening that's why right now investors value tesla like a technology company not an automaker but they have to execute in 2021 any trip over the shoelace stock will you know see significant downside dan you know the expectations for this company are so astronomically high and even elon musk has has warned employees that the the street and analysts are watching their every single move every single statistic that the company reports and yet elon musk says things like i'm considering moving our balance sheet to bitcoin i mean a lot of people just say elon's gonna elon that's his you know traditional schtick but when you're in the s p 500 and when you have a valuation like the company does i mean do you think that that the company needs to get some religion and and that he needs to be acting more uh corporate more buttoned up yeah i mean to some extent elon will always be on but i think what you've started to see in terms of profitability that redding's the rear view mirror that's why they've gotten into that s p 500 but i think you're starting to see more maturity as they build out especially in europe with berlin focus on distribution strategy of course austin on the cyber truck but no doubt i mean there's much more focus on tesla and more to gain more to lose especially part of the smp and that bitcoin that continues to be a focus in terms of that back and forth with microstrategy i think some investors were not too happy about that today
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