Tesla TSLA a $1 Trillion Company by End of 2021 & Sell-off Is “Massive buying opportunity,” Says Wedbush

[TruckElectric]

Photo: Teslogo

Tesla (NASDAQ: TSLA) will be a $1 trillion company by the end of 2021 as it experiences "eye-popping demand" in China, and the recent sell-off presents a "massive buying opportunity," Wedbush said.

In his commentary, Wedbush analyst Dan Ives emphasized that China is a growth pillar for the electric vehicle market. Establishing Tesla's factory in the Chinese market gives it an important competitive advantage over other companies. Tesla is experiencing huge demand in this market, which will lead to even more rapid development. If China continues to show interest in the American manufacturer's cars, it will lead to Tesla being able to reach 1 million delivered units worldwide by 2022.

"If China stays on its current path for Tesla, Musk & Co. could hit one million delivery units globally by 2022. This speaks to our thesis that Tesla will hit a trillion-dollar market cap in 2021 despite this risk-off moment for EV stocks with the bears coming back to life after a long hibernation in their caves over the past year."

Ives also commented on the recent chip shortage. He wrote that the chip supply chain should be normalized as early as March. He added that the recent sell-off of Tesla shares is "a short-term pullback," which presents a "massive buying opportunity," for investors as the world moves into the "golden age of EVs."

"While the stocks and the EV space is clearly going through a digestion period, we view this as a short-term pullback in a multi-year upward rally."

Wedbush has set a target price for Tesla at the end of 2021 at $950.

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SOURCE: TESMANAIN

 

[ReddykwRun]

Glad I stepped back from the roulette table on February 9th when it started getting jiggy on the downslope. Looking to get back into the game after the "dip". Inflation fears are a concern.

Will expand the herd after the dust settles.

 

[Luke42]

Glad I stepped back on February 9th when it started getting jiggy on the downslope. Looking to get back into the game after the "dip". Inflation fears are a concern.
Expand the herd after the dust settles.

Me too, though I sold my TSLA a little later because I couldn't tease out the trend from the volatility.

I didn't talk about it here, because I didn't want to fight about it with the fangirls and fanboys. [shrug]

However, I got to keep most of the money, and I'm happy with my life choices. I'll consider buying back in when I see a stable trend and/or a sane long-term valuation for TSLA as a stock.

I'm comfortable with my choices so far.

 

[FullyGrounded]

Demand in China is waning. The Chinese government is now tossing regulations and other fodder at Elon, because Elon isn't playing by the rules. When does Elon play by the rules? When Elon makes the rules, then breaks them because he can. peace