Posted 12/22/2023, 12:37:00 PM
Tesla Stock Could Hit $1 Trillion by 2024 on Surging Demand and EV Dominance, Says Analyst
- Tesla stock could reach $1 trillion market value in 2024, according to analyst Dan Ives who has a $350 price target
- Ives believes Tesla demand is steady despite price cuts, with Q4 China volumes hitting a new record
- Gross margins have stabilized after recent concerns, and should start moving up in 2024
- Ives estimates 20% of autos will be electric by 2030, with Tesla leading the transition
- Tesla is doubling down on EVs with Cybertruck and plans for a sub $30k vehicle in the next 6-9 months