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.
Don’t hesitate to contact us with news tips. Just send a message to simon@teslarati.com to give us a heads up.
News
Tesla dominates JD Power EV Satisfaction ranking, grabbing top two spots
The Model 3 was the highest ranking EV considered, with a score of 804, followed by the Model Y at 797, the BMW i4 at 795, and the BMW iX at 794.
Tesla dominated JD Power’s EV Owner Satisfaction ranking for 2026, grabbing the top two spots in the survey with the Model 3 and Model Y.
The two Tesla models grabbed the first and second spots, respectively, with scores of 804 and 797 out of 1,000 possible points.
Brent Gruber, Executive Director of JD Power’s EV practice, said:
“EV market share has declined sharply following the discontinuation of the federal tax credit program in September 2025, but that dip belies steadily growing customer satisfaction among owners of new EVs. Improvements in battery technology, charging infrastructure, and overall vehicle performance have driven customer satisfaction to its highest level ever. What’s more, the vast majority of current EV owners say they will consider purchasing another EV for their next vehicle, regardless of whether they benefited from the now-expired federal tax credit.”
JD Power’s study showed three key findings: Public charging satisfaction was higher than ever, premium BEVs saw more pronounced quality improvements, and BEVs held their satisfaction ratings compared to plug-in hybrid electric vehicles (PHEVs).
Tesla Grabs Top 2 Spots
Despite what some publications might try to make you believe, Tesla is still the cream of the crop when it comes to EV ownership, and real-world owners surveyed by JD Power will prove that to you.
The Model 3 was the highest ranking EV considered, with a score of 804, followed by the Model Y at 797, the BMW i4 at 795, and the BMW iX at 794. The segment average for “Premium Battery Electric Vehicles” was 786. The Cadillac OPTIQ (762), Rivian R1S (758), Lucid Air (740), Rivian R1T (739), and Audi Q6 e-Tron (690) all finished below that threshold.
Meanwhile, a separate category for “Mass Market Battery Electric Vehicles” had the Ford Mustang Mach-E as the EV with the highest rating at 760. The segment average for this class was 727.
🚨 Tesla topped J.D. Power’s new EV Owner Satisfaction Study for 2026, with the Model 3 (804) and Model Y (797) being the top-rated vehicles, beating out the BMW i4 (795) and iX (794)
Additionally, Tesla Superchargers helped public charging satisfaction rise to new highs:
“The… pic.twitter.com/4WIxoDxHig
— TESLARATI (@Teslarati) February 19, 2026
Tesla Supercharging Improves Public Charging Satisfaction
JD Power said the availability of public charging is “by far the most improved index factor,” and that the consistent growth of publicly available charging has helped push many consumer sentiments in a positive direction.
Most of this is due to the Tesla Supercharger Network and its expansion. However, Tesla owners are also becoming more satisfied with the infrastructure after expanding access to other EV brands, the study said.
Elon Musk
Musk company boycott proposal at City Council meeting gets weird and ironic
The City of Davis in California held a weekly city council meeting on Tuesday, where it voted on a proposal to ban Musk-operated companies. It got weird and ironic.
A city council meeting in California that proposed banning the entry of new contracts with companies controlled by Elon Musk got weird and ironic on Tuesday night after councilmembers were forced to admit some of the entities would benefit the community.
The City of Davis in California held a weekly city council meeting on Tuesday, where it voted on a proposal called “Resolution Ending Engagement With Elon Musk-Controlled Companies and To Encourage CalPERS To Divest Stock In These Companies.”
The proposal claimed that Musk ” has used his influence and corporate platforms to promote political ideologies and activities that threaten democratic norms and institutions, including campaign finance activities that raise ethical and legal concerns.”
We reported on it on Tuesday before the meeting:
California city weighs banning Elon Musk companies like Tesla and SpaceX
However, the meeting is now published online, and it truly got strange.
While it was supported by various members of the community, you could truly tell who was completely misinformed about the influence of Musk’s companies, their current status from an economic and competitive standpoint, and how much some of Musk’s companies’ projects benefit the community.
City Council Member Admits Starlink is Helpful
One City Council member was forced to admit that Starlink, the satellite internet project established by Musk’s SpaceX, was beneficial to the community because the emergency response system utilized it for EMS, Fire, and Police communications in the event of a power outage.
After public comments were heard, councilmembers amended some of the language in the proposal to not include Starlink because of its benefits to public safety.
One community member even said, “There should be exceptions to the rule.”
🚨 After the City of Davis, California, held its City Council meeting on Tuesday and voted on a resolution called “Resolution Ending Engagement With Elon Musk-Controlled Companies and To Encourage CalPERS To Divest Stock In These Companies,” it was forced to admit that it needs… pic.twitter.com/hQiCIX3yll
— TESLARATI (@Teslarati) February 19, 2026
Community Members Report Out of Touch Mainstream Media Narratives
Many community members very obviously read big bold headlines about how horribly Tesla is performing in terms of electric vehicles. Many pointed to “labor intimidation” tactics being used at the company’s Fremont Factory, racial discrimination lawsuits, and Musk’s political involvement as clear-cut reasons why Davis should not consider his companies for future contracts.
However, it was interesting to hear some of them speak, very obviously out of touch with reality.
Musk has encouraged unions to propose organizing at the Fremont Factory, stating that many employees would not be on board because they are already treated very well. In 2022, he invited Union leaders to come to Fremont “at their convenience.”
The UAW never took the opportunity.
Some have argued that Tesla prevented pro-union clothing at Fremont, which it did for safety reasons. An appeals court sided with Tesla, stating that the company had a right to enforce work uniforms to ensure employee safety.
Another community member said that Tesla was losing market share in the U.S. due to growing competition from legacy automakers.
“Plus, these existing auto companies have learned a lot from what Tesla has done,” she said. Interestingly, Ford, General Motors, and Stellantis have all pulled back from their EV ambitions significantly. All three took billions in financial hits.
One Resident Crosses a Line
One resident’s time at the podium included this:
Another member of the community did this…a member of the City Council admonished him and it came to a verbal spat https://t.co/zWvKCiCkie pic.twitter.com/1L334qq9av
— TESLARATI (@Teslarati) February 19, 2026
He was admonished by City Council member Bapu Vaitla, who said his actions were offensive. The two sparred verbally for a few seconds before their argument ended.
City Council Vote Result
Ultimately, the City of Davis chose to pass the motion, but they also amended it to exclude Starlink because of its emergency system benefits.
Elon Musk
Elon Musk’s xAI Secures $3B Investment From Saudi AI Firm HUMAIN
The transaction converts HUMAIN’s xAI stake into SpaceX shares, positioning the Saudi-backed firm as a significant minority shareholder in the newly combined entity.
Saudi artificial intelligence firm HUMAIN has confirmed a $3 billion Series E investment in xAI just weeks before the startup’s merger with SpaceX.
The transaction converts HUMAIN’s xAI stake into SpaceX shares, positioning the Saudi-backed firm as a significant minority shareholder in the newly combined entity.
The investment gives HUMAIN exposure to what has been described as one of the largest technology mergers on record, combining xAI’s artificial intelligence capabilities with SpaceX’s scale, infrastructure, and engineering base, as noted in a press release.
“This investment reflects HUMAIN’s conviction in transformational AI and our ability to deploy meaningful capital behind exceptional opportunities where long-term vision, technical excellence, and execution converge, xAI’s trajectory, further strengthened by its acquisition by SpaceX, one of the largest technology mergers on record, represents the kind of high-impact platform we seek to support with significant capital” HUMAIN CEO Tareq Amin stated.
The investment also positions HUMAIN for potential long-term equity upside should SpaceX proceed with a public offering.
The investment expands on an existing partnership announced in November 2025 at the U.S.-Saudi Investment Forum. Under that agreement, HUMAIN and xAI committed to jointly develop more than 500 megawatts of next-generation AI data center and compute infrastructure in Saudi Arabia.
The collaboration also includes deployment of xAI’s Grok models within the kingdom, aligning with Saudi Arabia’s broader strategy to build domestic AI capacity and attract global technology players.
HUMAIN, backed by the Public Investment Fund, is positioning itself as a full-stack AI player spanning advanced data centers, cloud infrastructure, AI models, and applied solutions. The Series E investment deepens its role from development partner to major shareholder in the Musk-led AI and space platform.
Tesla dominates JD Power EV Satisfaction ranking, grabbing top two spots
Musk company boycott proposal at City Council meeting gets weird and ironic
