Photo: Yahoo Finance Live
Roth Capital Partners analyst Craig Irwin said that Tesla’s shares from retail investors “could move out quite violently” when other options like the Apple Car become available Yahoo Finance Live on Thursday.
Irwin emphasized a number of topics relating to Tesla, like the Cybertruck, the company’s 2022 production plans, and also saying that Tesla’s move to the Austin Gigafactory should be a good move for the company.
Apple Hiring ‘Radar Test Engineer’ for Electric Car Project https://t.co/XjY1trG3bj
— TeslaNorth.com (@RealTeslaNorth) October 4, 2021
Irwin’s price target on Tesla is set at $150, well below its current moves around the upper $700s.
In addition to other bearish comments, Irwin noted that Tesla’s valuation is about as much as the rest of the auto industry combined. Many bulls justify this valuation by citing Tesla’s impressive advanced driver assistance system (ADAS) technologies Autopilot and the Full Self-Driving beta, which could have many different future applications.
When asked about an Apple car release a few years away, Irwin said, “The biggest catalyst in the next couple years is going to be to launch the Apple Car.”
As it stands, Apple’s car plans appear far from complete, as recently it lost its car chief to Ford. Tesla will soon be on track to produce one million cars per year, as new factories ramp up in Texas and Germany.
Irwin said he predicts the Apple car to include “bleeding-edge technology,” which he says will contribute to a number of companies eroding Tesla’s market share. That’s quite the bearish prediction.
You can watch Irwin’s full interview on the Yahoo Finance Live channel here.
Yeah, the only bleeding edge is Irwin’s portfolio.
LOL
Apple doesn’t have a damn car. Not even a twinkle in it’s eye. How about waiting for this to be even remotely in existence before trying to tell anyone about effects.
Irwin’s quite bearish. Apple Car is a decade away.
another terrible storm of Tesla Killer on the horizon…when will retail investors stop listening to liars wanting them sell their shares on the cheap.
another terrible storm of Tesla Killer on the horizon…when will retail investors stop listening to liars wanting them sell their shares on the cheap.
another terrible storm of Tesla Killer on the horizon…when will retail investors stop listening to liars wanting them sell their shares on the cheap.