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Investing.com -- Tesla Inc. (NASDAQ:TSLA) shares have continued to rise, even as investors anticipate a two-step downward adjustment to the company’s earnings and the news breaking that competitor BYD Co (SZ:002594) has outpaced them in revenue, reaching over $100 billion in sales annually.
Gene Munster, Managing Partner of Deep Water Management, offered some comments on X, noting that the company’s numbers are expected to decline in two stages. The first reduction is expected to occur on April 2nd, when Tesla will announce its delivery numbers. The second adjustment is predicted to take place later in April, during the company’s March earnings announcement.
Munster also stated that he believes the current earnings forecasts for this year and the next are still 17% too high. Despite this, Tesla’s stock has continued its upward trajectory, with a notable 9% increase observed today.
The Deep Water Co-Founder believes the company’s robust performance in the stock market is seen as a testament to investors’ faith in Tesla’s long-term mission of "sustainable abundance". This mission centers on the belief that advancements in robotics and artificial intelligence, including Full Self-Driving (FSD), Cybercab, and Optimus technologies, will drive a significant increase in the company’s revenue and earnings by CY27.
Munster concluded his comments by expressing his continued support for Tesla, stating that he remains in the long-term bull camp.
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