If there is someone who is always one step ahead in technology, it is the CEO of Tesla , Elon Musk . While the headlines focus on his intention to buy Twitter, he has also signaled optimism about his Optimus robot according to Brian Sozzi at Yahoo Finance .
“I was surprised that people don’t realize the magnitude of the Optimus robot program,” Tesla’s chief executive said at the company’s earnings call Wednesday night. “The importance of Optimus will become apparent in the years to come. Those who are perceptive or who listen carefully will understand that ultimately Optimus will be worth more than the car business and will be worth more than full autonomous driving, that is my firm belief.
Tesla first revealed the Optimus robot, also known as the Tesla Bot , at an AI-focused event in August 2021 . The 5-foot-8-inch, 125-pound robot is designed to perform repetitive or mundane tasks that humans hate (or can be hired to do in a tight job market).
In general, Wall Street analysts do not believe that Optimus is going to be a financial engine in the medium term since they are not being produced at scale.
“I would say no, but time will tell,” Wells Fargo auto analyst Colin Langan told Yahoo Finance when asked about the robot’s impact. “He has proven the markets wrong before.”
In theory, the Optimus program has the potential to help Tesla reduce operating costs at its facilities ; it’s just a question of whether Musk can make enough robots.
Meanwhile, what Wall Street believes in Tesla is that it could be on its way to another strong year of making profitable electric vehicles.
What the numbers left
Here’s how Tesla performed compared to Wall Street estimates:
Revenue: $18.8 billion vs. $17.9 billion expected
Adjusted earnings per share: $3.22 vs. $2.27 expected
Musk noted that despite COVID-19-related closures at its key Shanghai manufacturing plant recently, Tesla’s production has returned with a “vengeance.”
He added that it will help Tesla potentially deliver 60% more cars this year compared to 2021 , ahead of many analysts’ estimates.
“Taking a step back, with supply chain issues still lingering in the automotive space and logistics issues globally, we think these ‘Cinderella-like’ delivery numbers in a brutal supply chain context speak volumes. of an EV demand trajectory that looks pretty strong for Tesla going into the rest of 2022,” Wedbush CEO Dan Ives said.
Ives has a $1,400 price target on the stock . At current levels, Ives’ price target assumes a 33% rise over the next 12 months.
Teslait corrected at the close of the session to $1,011.37 and the location of the moving averages, the 70-period one above the 200-period one, would give us a bullish signal. While the Ei indicators are mixed.
Rachel Maga is a technology journalist currently working at Globe Live Media agency. She has been in the Technology Journalism field for over 5 years now. Her life’s biggest milestone is the inside tour of Tesla Industries, which was gifted to her by the legend Elon Musk himself.