Two catalysts are pushing $TSLA higher: 1/ Increasing optimism that TSLA (and a few others) are on the verge of solving for unsupervised autonomy; and 2/ Conviction that shareholders will again overwhelmingly approve Elon’s comp package at next week’s Annual Meeting. We remain cautious about TSLA’s extended valuation (2026 P/E ~200x) vs annual L/T earnings growth of +35%). We believe investors are too optimistic about how quickly TSLA can roll out L4/L5 unsupervised robotaxis to other states without safety monitors. Austin and SFO Bay area remain the only two areas in which robotaxis are available with 150 robotaxis up and running. The major catalyst for $TSLA going forward is removal of safety monitors in all Robotaxis, which would signal an imminent scale up, and which Elon has targeted in Austin by year-end. Our 6-12 month $TSLA PT remains $310.
@tesla_semi Why isn't anybody asking about what they are testing. @grok What are they testing, this truck has existed a long time, could it be self driving?
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