On Tuesday, Loup Ventures Co-Founder and Managing Partner Gene Munster debated the bear-ish Gordon Johnson, the founder and CEO at GLJ Research on CNBC’s Squawk Box.
In the segment, Munster said that Tesla (TSLA) is a “definitional growth story,” despite many production issues with the recent semiconductor shortage and
Munster said, “This is rare what’s happening with Tesla, which is, in my view, a definitional growth story.” Munster continued, “We have 109% vehicle delivery despite all of those supply chain issues, which, as you said, other automotive companies had those same issues.”
BREAKING:
This is the most important page in the earnings release for a long-term $TSLA investor.$0.93/share is an all-time record *for any quarter ever*.
And Q1 is typically Tesla's worst quarter. 👀 pic.twitter.com/AEYYrUEso6
— James Stephenson (@ICannot_Enough) April 26, 2021
While Tesla’s shares briefly touched $900 in January, the company’s shares at the time of writing are worth just $711.37, down 3.59% from yesterday’s close.
On Monday, however, Wedbush’s Dan Ives said Tesla may be headed for 900,000 deliveries this year, and Tesla’s earnings call later that day confirmed that the company could even be on its way to producing 1 million cars per year.
On the earnings call, Tesla CEO Elon Musk detailed the company’s first-quarter record net income of $438 million, with $10.39 billion in revenue. As Munster says, all of this was accomplished in the midst of an industry-wide component shortage, signaling just how much of an accomplishment Tesla’s first quarter has been.
During the same period, Tesla earned $272 million selling 10% of its Bitcoin investment, as well as a good amount of revenue from selling electric vehicle (EV) tax credits to other automakers.
