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percent of overall EVS that ultimately are going to be using the charging stations what they're going to be charging per kilowatt hour and then the important things guys that you know much the Bears will say well today everyone just charges at home but they charge at their office better than expected now that's perhaps the best way to describe Tesla and its stock so wed Bush analyst Dan Ives is on point on that one what's more he believes that there's more room to run for the EV leader after its latest bullish Q2 delivery numbers for context Tesla reported a record second quarter deliveries of 466 000 ahead of wall Street's 447 thousand consensus estimate production in the quarter also Rose to 479 700 which I've said was evidence of improved capacity and a healthier macro in a research note but it's also also and when you look right now they're going to be the only game in town that's why you have gm4 and others go into a Tesla and I think today it's supercharged in charge next is going to be batteries and then eventually fsdai Kickstart thesis apple on the services side this is just the early stages of muscatessen monetizing the numbers are proof to combat The Narrative of a murky backdrop and should put the Bears back into hibernation mode he added it is no secret that Dan Ives is a Tesla bull you are all aware that the news of Tesla's partnership with Ford and GM was well received in fact Tesla shares set a fresh eight-month High a few days back jumping four percent to 244.50 after the firm announced that it will open its supercharger Network to General Motors electric vehicles coming on the heels of a similar announcement for Ford EVS this represents aid in a recent note to clients upping his price target for Tesla by 40 to 300 at the time where are we on the road map of price Cuts in terms of Tesla which which Elon Musk is clearly clearly um move to put you know growth ahead of profitability yeah and I think that's been the right poker move and I think it's paid off significantly especially in China I think now of 95 96 of those cuts we think in the Arabian America and I think you saw maybe some overreaction last week and you definitely seen a rebound as I think more investors are recognizing that but right now margins suffering at the cost of units now I think that drops over the next quarter or two and starts to rebound into next year and that's the yin yang that they're going to strike But ultimately it continues to be Tesla's world and everyone else is paying rent in terms of overall EVS I think that's becoming queer and clearer in a note to clients Ives well some actually did a recent note from Dan Ives of wedbush it is worth noting that Tesla is also working to secure its share of the 7.5 billion dollars in U.S government subsidy cities designed to accelerate the installation of as many as 500 000 high-speed Chargers on the country's busiest highways the Biden Administration has been clear that Tesla would only be eligible if other automakers were granted access to its Network spending on Tesla's supercharger network has been significant with charging stations costing a hefty forty two thousand dollars per connector the resulting financial burden aside Tesla stations are much more cost effective compared to the 100 to 250 000 per connector spent by Rivals according to a report so in terms of the stock it's up 10 percent this week it's down 10 percent over a month and the reason you know I'm trying to get the correlation here between it and the NASDAQ if the NASDAQ continues to to have some trouble and and Tech big Tech in general pulls back this stock is going to be susceptible to that as well don't don't you think of course yeah I mean well we continue to view test it's a disruptive technology company not not an autoplayer right but I it's our view during the second half of the year I think tech stocks rip High I mean it's my view that the new tech full Market has already begun I think growth is going to exceed Street expectations I think we were talking with Nvidia that's just the app is powder it's what we're going to see with this trillion dollar tidal wave of spend over the coming years for players across the tech ecosystem undoubtedly Tesla's supercharger network is the most robust and expansive on the planet and earlier this summer it gained massive attention when it struck deals with various oems to allow their EVS to access the charging infrastructure starting in spring 2024.
in another note to investors I've sais which there ad and ves wrote simply put Ives is a firm believer in Tesla in fact he said Tesla is is in a massive position of strength after building its EV castle and now is set to further monetize its success pointing to the company's increasing ability to bring in Revenue outside of EV sales Tesla should net another 3 billion dollars in new revenue from Ford and General Motors EV users Ives estimated Ives noted five thousand He suggests Tesla's network is almost entirely solar powered so the energy generation costs are negligible as a result Tesla Supercharger network will represent a large monetization opportunity and account for roughly three percent according to Ives this implies that Tesla stands to generate total revenue of more than 330 billion dollars by the end of the decade across its sprawling business a hefty increase from the 94 billion it reported over the trailing 12-month period a few weeks ago Ives gave Tesla stock a buy his price Target is 350 a share one of the highest on Wall Street that worked out to about 73 times his 2024 earnings estimate of 4.80 cents a share overall 39 percent of analysts covering the company rate shares by now it's it's having its pause pullback whatever you're going to characterize that as I mean what do you want these stocks to go up 60 and 70 percent for the year I I mean my view is first a way over corrected last year I mean that's our opinion and I think now investors more and more going to 2024 2025 looking at some a cycle that we haven't seen in 30 years now of course rates as you have to Professor that's clearly going to be ahead of win but when I looked across pack when I look across software cyber security chips I I view this as a time where we view it as a star of a new tech bull market not the time where we're hiding because of valuations I think these stocks throw into their valuations over the coming years raising his price target for the EV maker to 350 Ives argued in a note that Elon musk's company has demonstrated that it can monetize Key Products including its supercharger Network and self-driving Tech Tesla is currently trading at around 250 dollars per share 100 short of Ives price Target unsurprisingly Tesla bears do not share Ives optimism on Tesla stock especially since Tesla stock has been falling ever since the company reported earnings in July largely over concerns of weakening margins and continuous price Cuts however the company which is still up more than 90 percent for the year is just at the beginning of its growth Ives firmly believes Ives further said that the Tesla bears are negative because they are looking at Tesla as a car company he on the other hand remains incredibly bullish on the company's Outlook because similar to Kathy Wood of Arc invest he views the company as a major player in the tech and AI space bulls have disruptive technology and that continues to be the big debate around the name I've said I've always viewed them as a Tech play and I can argue the FSD angle makes them one of the best AI plays when you look down the road three to five years and Tesla as a tech company rather than a car company is something that will achieve profits through the monetization of certain invaluable Services I've said the company's supercharging Network represents the very beginning of this monetization Ives and his team released new projections around the Tesla supercharging Network last week saying that the network could bring in up to 20 billion dollars in Revenue annually by the end of the decade an amount equivalent to around six percent of Tesla's total revenue this latest model is based on the Assumption of broader EV adoption with Ives looking at EVS to make up around 20 percent of all cars by the end of the decade compared with the current ratio of three to four percent there's a lot of variables Ives said of the model one is the vast majority of charging today happens at home or place of business this is under the scenario that more EVS are being used outside of just commuting driving around and also being charged at their own long distances make sure to subscribe for more
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