Tesla (NASDAQ:TSLA) took a steep dive on the heels of the company’s Q4 and FY 2023 earnings call, dropping over 9% as of writing. With the company stating that volume growth would be tempered this year due to its focus on the next-generation platform and executives being quite vague about its guidance for 2024, analysts, including some TSLA bulls, are not happy.
Tesla actually had a record 2023, with vehicle sales growing nearly 40% year-over-year in 2023 to over 1.8 million units worldwide. Wall Street currently expects Tesla to post about 2.1 to 2.2 million vehicle sales for 2024, which would translate to a growth of about 20%. This number seems conservative and attainable enough, but Tesla simply maintained that its volume growth would be substantially lower than 2023’s ~40%.
Wedbush analyst Dan Ives shared his sentiments about Tesla’s earnings call, in a post on X. Ives described the call, which provided some high-level long-term views on the company, as another “train wreck” conference call. Following the earnings call, Ives adjusted his price target for Tesla from $350 to $315 per share, though he also noted that Wedbush remains bullish on the company.
Great to join @bsurveillance discussing another train wreck conf call in our view from Tesla and Musk lacking margin outlook and firm guidance for 24. Remain bullish for long term EV/AI vision but near term headwinds @lisaabramowicz1 @FerroTV @annmarie @BloombergTV https://t.co/E40CMG2Mg0— Dan Ives (@DivesTech) January 25, 2024
“We were dead wrong expecting Musk and team to step up like adults in the room on the call and give a strategic and financial overview of the ongoing price cuts, margin structure, and fluctuating demand. Instead, we got a high-level Tesla long-term view with another train wreck conference call,” Ives noted.
RBC analyst Tom Narayan also maintained his “Buy” rating on Tesla, though he lowered his price target from $300 to $297 per share. “We leave our delivery estimates unchanged after the vague guide, but lower our car gross margin expectations on less robust cost down opportunity,” he noted in a report. Narayan also pointed out that Tesla’s next-generation vehicle platform is still “many quarters away” from impacting the company’s numbers.
New $TSLA report from Adam Jonas: 5 thoughts post earnings call
“We reiterate our OW $TSLA rating ($345 price target) which offers over 80% upside from current levels which we believe is compelling in proportion to the investment level within our US auto coverage.” pic.twitter.com/TdZ2cLavdc— Sawyer Merritt (@SawyerMerritt) January 25, 2024
Morgan Stanley’s Adam Jonas, for his part, pointed out that Tesla almost did not provide any guidance during the call. He also observed that there were no “AI rabbits” pulled out of Tesla’s hat during the call, which was highlighted by Musk’s conservative comments about Dojo. Despite this, Morgan Stanley opted to maintain its “Overweight” rating and $345 price target on Tesla, with a bear case PT of $100 and a bull case PT of $500 per share.
While the sentiments surrounding Tesla’s Q4 and FY 2023 earnings call seem generally negative, some analysts opted to take a more optimistic stance on the company. Canaccord lowered its price target for Tesla from $267 to $234 per share, though the firm also noted that it is time for investors to be patient about the company. The firm noted that it remains bullish about Tesla’s long-term prospects.
NEWS: Canaccord Genuity has lowered its $TSLA price target to $234 (from $267), maintains a BUY rating.
They put out a good note:
“It’s time to be patient. The next-generation vehicle, FSD upgrades, margin improvement, and Optimus will likely bring an acceleration in revenue…— Sawyer Merritt (@SawyerMerritt) January 25, 2024
“It’s time to be patient. The next-generation vehicle, FSD upgrades, margin improvement, and Optimus will likely bring an acceleration in revenue growth. But not this year — 2024 will be subdued; probably a trough, but still relatively slow (we model ~18% y\y revenue growth). Growth curves are seldom smooth, and Tesla is no different.
“We are still quite bullish on Tesla’s long-term growth prospects. We think EVs will replace ICE vehicles despite recent countervailing narratives. We see vehicle autonomy as one of the highest value-creating technologies to be deployed. Ever. And Tesla, with its razor/ razorblade approach, is a leader in this real-world AI. We think Tesla is Apple on steroids as it focuses on manufacturing and a higher level of vertical integration. Tesla is THE sustainability behemoth, in our opinion,” the firm noted.
The critical metric, auto gross margins ex credits, came in at 17%, compared to the Street at 17.3%. I was expecting 16.7%.
While this missed the Street, it marks the end of four consecutive quarters of margin decline, up from 16.3% in the Sep-23.
Over this is a positive.— Gene Munster (@munster_gene) January 24, 2024
Longtime Tesla bull Gene Munster of Deepwater Asset Management also pointed out that Tesla’s auto gross margins for the past quarter ended a streak of dropping margins. “The critical metric, auto gross margins ex credits, came in at 17%, compared to the Street at 17.3%. I was expecting 16.7%. While this missed the Street, it marks the end of four consecutive quarters of margin decline, up from 16.3% in the Sep-23. Over, this is a positive,” Munster wrote on X.
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Elon Musk
California snubs Tesla in its newly passed EV incentive that favors Rivian and Lucid
California passed a $135 million EV incentive that rewards Rivian and Lucid while sidelining Tesla
California just drew a line in the EV incentive sand to put Tesla on the wrong side of it. The state recently passed a $135 million program offering first-time electric vehicle buyers a direct incentive with no application required, but the rules were written in a way that leaves Tesla at a structural disadvantage compared to Rivian and Lucid.
The program caps eligible vehicles at $50,000 for new EVs and $25,000 for used ones. That pricing threshold rules out a significant portion of Tesla’s lineup, though some lower-priced Model 3 and Model Y configurations would still qualify. California-based automakers are exempt from the price cap entirely, regardless of what their vehicles cost. Rivian, headquartered in Irvine, and Lucid, based in the San Francisco Bay Area, both benefit from that exemption. Rivian’s R2 starts at roughly $45,000 but has versions above the cap. Lucid’s Air and Gravity start at $70,990 and $79,990 respectively, well above any threshold a non-California company would face.
California hits Tesla Cybercab and Robotaxi driverless cars with new law
Tesla built its reputation and a significant portion of its early market share in California, where EV adoption has consistently led the nation. The company operates its original factory in Fremont, California, and the state was home to Tesla’s headquarters for most of its existence. That changed in 2021 when Tesla moved its corporate headquarters to Austin, Texas. Since then, the relationship between the company and California Governor Gavin Newsom has been openly adversarial, with Musk and Newsom trading public criticism on multiple occasions.
California’s EV incentive landscape has shifted repeatedly in recent years, and Tesla has previously lost eligibility for state-level programs as its vehicles exceeded income-adjusted price thresholds. The federal $7,500 EV tax credit, which Tesla models have qualified for and lost depending on policy cycles, is no longer available after it expired without renewal, making state-level programs more meaningful to buyers than they have been in years.
The practical impact for buyers is more nuanced than the headline suggests. California residents purchasing a Tesla under $50,000 for the first time can still access the incentive. But the exemption written for California-based manufacturers is a structural advantage that rewards where a company plants its headquarters flag rather than where it builds its products, and Tesla moved that flag to Texas.
Elon Musk
SpaceX’s newest logo confirms everything about what it’s become
SpaceX officially absorbed xAI under the SpaceXAI brand, completing the largest private merger in history.
SpaceX made its corporate transformation official in May 2026 when Elon Musk posted on X that xAI would cease to exist as a standalone company. “xAI will be dissolved as a separate company, so it will just be SpaceXAI, the AI products from SpaceX,” he wrote.
A new SpaceXAI logo was announced today, visually embedding the xAI letters inside the SpaceX identity, which can be seen as a deliberate design choice that signals the merger is not a partnership but a full absorption and XAi a core function of the same company. The same way Starlink is not a separate brand but a SpaceX product. The announcement closed the loop on a process that began February 2, 2026, when SpaceX acquired xAI in the largest private merger in history, valued at $1.25 trillion. SpaceX at $1 trillion and xAI at $250 billion.
We are now @SpaceXAI. pic.twitter.com/ema66xDWC9
— SpaceXAI (@SpaceXAI) July 6, 2026
The reason SpaceX bought xAI was stated plainly by Musk at the time of the deal: to build orbital data centers. SpaceX had simultaneously filed with the FCC to launch up to one million satellites designed to function as AI compute nodes in low Earth orbit, escaping what Musk described as the energy constraints limiting AI development on Earth.
xAI provided the AI software stack, with Grok, the X platform, and the Colossus supercomputer infrastructure in Memphis with over 220,000 NVIDIA GPUs, while SpaceX provided the rockets, Starlink, and the capital base to fund it. The two companies needed each other. xAI was burning $2.5 billion in losses on $250 million in revenue. SpaceX was generating an estimated $8 billion in profit on $15 billion in revenue and needed an AI narrative to command the valuation it was targeting for its IPO.
What SpaceX has done, regardless of how the orbital AI vision ultimately plays out, is walk into a public market as something no company has been before: a rocket manufacturer, satellite internet provider, AI software company, social media platform, and supercomputer operator under one ticker. Whether that combination is worth $2 trillion depends entirely on which of those businesses you believe in most.
Tesla brought its innovative Cybercab robotaxi to the National Federation of the Blind (NFB) Annual Convention in Austin, Texas, on July 3 at the JW Marriott Austin.
The hands-on demonstration highlighted the vehicle’s thoughtful design for blind and visually impaired users, underscoring Tesla’s commitment to inclusive autonomous mobility. Attendees, many using white canes or accompanied by service dogs, experienced the steering-wheel-free Cybercab firsthand.
Cybercab at the National Federation of the Blind’s Annual Convention in Austin for a hands-on experience of its accessibility features for blind or visually impaired customers⁰⁰For example:⁰– Braille lettering on physical controls
– Space for service animals & assistive… pic.twitter.com/8wrJcDHkw7— Tesla Robotaxi (@robotaxi) July 6, 2026
The showcase emphasized practical features tailored to the needs of the blind community. Braille lettering appears on physical controls, including door releases and emergency buttons, allowing users to navigate interfaces independently through touch. Generous interior space accommodates service animals and assistive devices such as canes, guide dogs, or mobility aids without compromising comfort.
Wheelchair-height seating facilitates easier transfers for users with additional mobility challenges. Photos from the event captured blind attendees approaching the vehicle confidently, service dogs relaxing inside, and hands exploring Braille-equipped handles.
Tesla Robotaxi’s official account detailed these elements, noting the Cybercab’s focus on accessibility, especially noting the Braille lettering and additional space for service animals.
How Tesla Will Transform Mobility for the Blind
Autonomous vehicles like the Cybercab promise revolutionary independence for the roughly 2.2 million visually impaired Americans. Traditional barriers—reliance on sighted drivers, costly paratransit, or limited public transit—often restrict spontaneous travel. Tesla Full Self-Driving aims to eliminate the need for a human operator, enabling on-demand, door-to-door rides via simple app hailing with voice guidance.
Users gain freedom to work, socialize, shop, or attend events anytime without scheduling hassles or safety concerns. This reduces isolation, boosts employment opportunities, and enhances quality of life, turning mobility from a dependency into true personal autonomy.
The NFB demonstration not only gathered valuable feedback but also generated excitement about a future where technology levels the playing field. By prioritizing inclusive design, Tesla advances a vision of transportation that serves everyone, potentially reshaping daily life for blind individuals and setting a standard for the autonomous industry.
As Cybercab deployment scales, these accessibility innovations could mark a significant step toward equitable mobility.
California snubs Tesla in its newly passed EV incentive that favors Rivian and Lucid
SpaceX’s newest logo confirms everything about what it’s become
