Welcome to Seeking Alpha's Wall Street Lunch, our afternoon update on today's market action, news, and analysis.

Good afternoon, today is Monday, September 8th, and I'm your host, Kim Khan.

Our top story so far, Tesla's U.S. market share fell close to an eight-year low in August.

Buyers chose electric vehicles from a growing stable of rivals over the aging lineup offered by CEO Elon Musk's company.

Citing data from research firm Cox Automotive, Writers said Tesla, which once held more than

80% of the U.S. EV market, accounted for 38% of total EV sales in the U.S. in August.

That's the first time it has fallen below 40% since October 2017,

when it was ramping up production of the Model 3. Analysts expect an EV sales month to continue through

September in the United States, then drop when federal tax credits expire at the end of the month,

raising financial pressure on Tesla and other automakers. But Deepwater Asset Management analyst Gene Munster said

an $8.5 trillion market cap for Tesla is achievable. AI will have a bigger impact on our lives

than most can imagine, he said, as its ability to give birth to new forms of computing, such as physical

AI, is the foundation that can turn that fairy tale into reality. Munster said Tesla can capitalize on the potential around physical AI through full self-driving,

robotaxies, and Optimus, with Optimus being the biggest of those opportunities.

He also pointed to the last lever in the $8.5 trillion story as being XAI.

Among active stocks, United Health reaffirmed its adjusted EPS outlook for the full

year in a filing. That came ahead of a meeting with investors and analysts this week. In late July,

the company issued fresh outlook for 2025, indicating revenue and adjusted earnings below street

forecasts amid a sharp increase in its medical expenses. The company projected adjusted EPS of at least $16

on revenue of $445.5 billion to $448 billion. Analysts currently expect the company to earn 1624 a share on

revenue of $448.2 billion. Telecom stocks are falling after ECHO Star to sell its AWS4 and H-Block Spectrum

licenses to SpaceX for about $17 billion.

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