![]() ![]() And if any one of - it will go as fast as the least lucky, least well-executed element of the 10,000. …But first order approximation, there’s like 10,000 unique parts and processes in the Cybertruck. I do want to emphasize that the Cybertruck has a lot of new technology in it, like a lot… Let’s kick things off with the Cybertruck:ĭemand is so far off the hook, you can’t even see the hook. More interesting insights can be found in the earnings call, which addresses some of the most important bullish factors moving forward. The numbers posted by Tesla are within the expectations of investors and analysts. Lastly, it’s worth mentioning that Energy storage grew 222% YoY thanks to the ramp-up of the Lathrop Mega Factory.Īnd, following the addition of numerous companies into the Tesla Supercharger ecosystem, the company has now actually begun to turn a gross profit on its Services & Others segment. Tesla Energy Storage (Investor Presentation) Tesla’s FSD continues to ramp up miles, and the company projects that its supercomputer, Dojo, will reach 100 exaflops of power by October 2024. As we can see above, Tesla is growing market share in Europe, the U.S., and China. Production capacity continued to increase across the board to meet the increased demand. Gross margin was a little weaker in the quarter, which was expected given the price cuts, which is also reflected in the adjusted EBITDA. Tesla Q2 Overview (Investor Presentation)Īutomotive revenues were up 46% YoY, while Energy and storage revenues were up 74%. Tesla’s Q2 results have, so far, failed to impress investors, even though the company beat EPS by $0.09 and revenues by $200 million. ![]() Thus, I am changing my rating to Neutral. I’m bullish long term, but believe more of a selloff will ensue. Even before earnings, the technicals suggested that Tesla stock was near a local top. However, fundamentals are only half the picture. These include progress on the Tesla Cybertruck, the growth of its energy storage unit, and the advancements in full self-driving ("FSD"). ![]() Looking through the Q2 earnings call transcript, there are a lot of fundamental reasons to be bullish long term. ( NASDAQ: TSLA) provided a Q2 earnings beat on both revenue and earnings, but TSLA stock is down 4% pre-market. ![]()
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