2024

Elon Musk

<div class="textg" style="text-align: justify; font-weight: lighter; line-height: 1.3em; font-size: 15px; border-radius: 3px; color: #80909a; padding: 10px; background-color: #F4F6F9; margin-bottom: 15px;">
 Neither the author, Tim Fries, nor this website, The Tokenist, provide financial advice. Please consult our&nbsp;<a href="https://tokenist.com/terms-of-service/" style="text-decoration:underline;color:#3c7b7b" target="_blank" rel="noreferrer noopener" class="deco-link">website policy</a>&nbsp;prior to making financial decisions.
</div> 
<p class="has-drop-cap">Tesla (NASDAQ: TSLA) <a aria-label="reported (opens in a new tab)" href="https://www.cnbc.com/2024/01/24/tesla-tsla-earnings-q4-2023.html" target="_blank" rel="noreferrer noopener nofollow" class="deco-link">reported</a> its Q4 results on Wednesday, disappointing investors with worse-than-expected results and a <a aria-label="pessimistic 2024 outlook (opens in a new tab)" href="https://www.cnbc.com/2024/01/25/tesla-tsla-shares-fall-after-musks-ev-maker-warns-of-2024-slowdown.html" target="_blank" rel="noreferrer noopener nofollow" class="deco-link">pessimistic 2024 outlook</a>. As <a href="https://tokenist.com/wall-street-bullish-on-magnificient-seven-in-2024-except-for-tesla/" rel="dofollow" class="deco-link">predicted by Wall Street analysts</a>, recent challenges have significantly weighed on the carmaker’s stock price, leaving it the only stock in the “Magnificient Seven” to be down YTD, dropping over 16% since the year started. </p> 
<h3 id="tesla-s-2024-outlook-warnings-trigger-sell-off">Tesla’s 2024 Outlook Warnings Trigger Sell-Off</h3> 
<p>Tesla’s shares dipped 8.8% in premarket trading Thursday after the electric vehicle (EV) giant’s Q4 results missed Wall Street’s estimates and pointed to a gloomy 2024 outlook.</p> 
<p>The carmaker led by Elon Musk posted Q4 adjusted earnings per share (EPS) of 71 cents, missing the consensus estimates of 74 cents estimated by LSEG. Quarterly net income surged, doubling to $7.9 billion ($2.27 per share) from the previous year’s $3.7 billion ($1.07 per share), mainly fueled by a one-time noncash tax benefit of $5.9 billion.</p> 
<p>Tesla generated $25.17 billion in revenue during the quarter, below the analysts’ expectations of $25.6 billion. Year-over-year, revenue rose by 3%.</p> 
<p>Tesla’s automotive revenue, a metric closely watched by analysts and investors, reached $21.6 billion in Q4, marking a year-over-year increase of just 1%. Operating margin stood at 8.2%, down significantly from the 16% reported in the year-ago period and slightly above the 7.6% in the previous quarter.</p> 
<p>However, the company’s outlook has likely been the biggest concern to investors. Tesla said vehicle volume growth “may be notably lower” in 2024 compared to last year as it strives to roll out its next-generation vehicle in Texas. The company is currently caught “between two major growth waves,” it said.</p> 
<p>Last year, Tesla delivered 1.8 million cars and has implemented a series of price cuts globally, especially in Europe and China. The reductions negatively affected the company’s profit margins, prompting multiple Wall Street firms to <a href="https://tokenist.com/bernstein-keeps-tesla-pt-at-150-says-its-looking-like-a-regular-auto-company/" rel="dofollow" class="deco-link">lower</a> their price targets on EV maker’s stock.</p> 
<div class="cta-referral"> 
 <img src="https://tokenist.com/wp-content/themes/thetokenist/assets/img/del/cta-referral-1.png" alt="" class="cta-referral__img" loading="lazy" decoding="async"> 
 <div class="cta-referral__text"> 
  <p>Join our&nbsp;<a href="https://t.me/thetokenist" target="_blank" rel="noreferrer noopener nofollow" class="deco-link">Telegram group&nbsp;and never miss a breaking digital asset story.</a></p> 
 </div> 
</div> 
<h3 id="magnificent-seven-continue-their-march-leaving-tesla-behind">Magnificent Seven Continue Their March, Leaving Tesla Behind</h3> 
<p>Beyond Tesla, the other leading tech stocks in the Magnificent Seven, which played a significant role in last year’s stock market dominance, have sustained and extended their momentum in 2024. This group has propelled the <a href="https://tokenist.com/ubs-analysts-bullish-on-the-sp-500-for-2024-despite-shaky-start/" rel="dofollow" class="deco-link">S&amp;P 500</a> to reach <a aria-label="record highs (opens in a new tab)" href="https://www.wsj.com/finance/stocks/tech-stocks-nvidia-microsoft-rise-288c36d1" target="_blank" rel="noreferrer noopener nofollow" class="deco-link">record highs</a> for the first time in two years as investors continue to channel funds into the tech sector.</p> 
<p>Once again, chip giant Nvidia (NASDAQ: NVDA) is spearheading the charge, having gained more than 24% since the start of the year. Facebook owner Meta platforms (NASDAQ: META) climbed more than 11% during that period, while Microsoft and Google advanced about 7.7%.</p> 
<p>After a <a href="https://tokenist.com/apple-gets-third-downgrade-in-2024-iphone-sales-decline-in-china/" rel="dofollow" class="deco-link">tough start to the year</a>, Apple is up around 4% year-to-date, similar to what Amazon (NASDAQ: AMZN) gained. Meanwhile, Tesla is the only laggard from the Magnificent Seven stocks, plunging nearly 17% since January 1.</p> <iframe src="https://tokenist.substack.com/embed" width="100%" height="320" style="border:1px solid #EEE; background:white;" frameborder="0" scrolling="no"></iframe> 
<p><em><strong>Do you expect Tesla to continue trailing the rest of Magnificent Seven stocks, or do you see this as a temporary setback for the EV giant? Let us know in the comments below.</strong></em></p> 
<p><em>Disclaimer: The author does not hold or have a position in any securities discussed in the article.</em></p> 
<p>The post <a rel="nofollow" href="https://tokenist.com/tesla-is-the-only-loser-in-the-magnificent-seven-so-far-this-year/">Tesla is the Only Loser in the Magnificent Seven So Far This Year</a> appeared first on <a rel="nofollow" href="https://tokenist.com">Tokenist</a>.</p>

Tesla is the Only Loser in the Magnificent Seven So Far This Year

목차

Tokenist

2024년 1월 25일에 게재된 다른 기사

Canada Urged to Appoint Federal Minister of AI and Digital Economy to Boost Global Standing

Predicting Solana’s 2024 prices amidst new network updates

NFTs Return To An Upward Trend – Here’s The 10 Top Selling NFTs This Week

UK advances towards a privacy-centric digital Pound

BlackRock goes into the deep for Bitcoin with a new BTC definition

Top 3 Altcoins To Buy Today January 25: ETH, OP, TIA

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!