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Tesla Daily: Tesla News & Analysis

More Earnings Discussion, Performance Model 3, Toyota Adopts NACS (10.19.23)

Tesla Daily: Tesla News & Analysis

Rob Maurer

Tsla, Model3, Technology, News, Tesla, Investing, Tech News, Modely, Business, Models, Modelx

4.81.1K Ratings

🗓️ 20 October 2023

⏱️ 26 minutes

🧾️ Download transcript

Summary

➤ New details on possible performance version on Model 3 Highland
➤ Analysts react to Tesla earnings
➤ Toyota announces intent to adopt NACS
➤ Tesla battery engineer departs
➤ Earnings follow-ups

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Executive producer Jeremy Cooke
Executive producer Troy Cherasaro
Executive producer Andre/Maria Kent
Executive producer Jessie Chimni
Executive producer Michael Pastrone
Executive producer Richard Del Maestro
Executive producer John Beans

Disclosure: Rob Maurer is long TSLA stock & derivatives

Transcript

Click on a timestamp to play from that location

0:00.0

Hey everybody, Rob Malware here, and today, of course, we're going to continue to talk

0:10.3

a little bit about Tesla's earnings report yesterday.

0:12.6

We do also have some news on a possible performance version of the Highland Model 3, got an exciting

0:17.5

update from Toyota and a couple other items as well.

0:20.0

By looking at the stock, obviously, challenging day to day after earnings, continuing the downtrend

0:24.7

that we saw during the call and after the call yesterday, closing down probably another

0:28.2

4% from where that closed yesterday after the call, 9.3% drop on the day to day, closing

0:34.1

at 220 and 11 cents.

0:36.6

NASDAQ, down about 1% today, a little bit volatility in the NASDAQ today with, I guess,

0:42.0

a mix of, you know, bearish and bullish comments, I guess, from Fed Chair Jerome Powell,

0:47.2

I guess, hawkish and dovish would be better put for his comments, but ultimately NASDAQ

0:52.6

ending down as well, not really providing any help for us today.

0:56.6

All right, just a couple of quick analyst reactions.

0:58.3

We're not going to go through them all, but just kind of get a sense of the flavor unsurprisingly,

1:03.1

mostly negative.

1:04.3

I would say as we kind of expected from yesterday, here's one from Morgan Stanley.

1:08.5

They've actually updated their forecast for next year for fiscal year 24.

1:12.7

Their earnings forecast for that year down to $2.41 from $3.89 previously.

1:20.2

So pretty significant drop in their expectations just based on margins, obviously, and expectations

1:25.8

for growth next year.

1:28.0

They did, however, only lower the price target $20.

1:30.6

So previously, they were at $400, and now they've dropped that to $380, basically just

...

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