Tesla Shares Drop on Q3 Earnings Miss and Cautious Outlook, But Positives Seen in Energy Margins and Supplier Role Pivot

Tesla shares fell after Q3 earnings miss and more cautious 2024 outlook. But some analysts see positives like energy margins and potential pivot to supplier role.

Margins disappointed in Q3 but should improve with scale. Energy business growing profit contribution may shift focus from auto margins.

Cybertruck deliveries still on track for 2022 but concerns on production ramp complexity. Next gen product timing also less certain.

Cautious macro tone on call and unchanged days supply despite lower production spooked some analysts. Further price cuts may be needed.

Overall sentiment on EV market is negative as Tesla price cuts haven't spurred demand hoped for. But factors like density could drive improvements in 1-2 years.