Tesla expected to navigate around iCar threat
- Loup Ventures' Gene Munster weighs in on the impact on Tesla (NASDAQ:
TSLA) from today's blockbuster Reuters report on Apple moving forward on
plans to develop a self-driving car.
- "We see little fundamental risk to Tesla if Apple were to release a
car. EV's today account for 3% of cars sold; in 5 years we expect the
share
of EVs to be closer to 30% of all auto sales."
- "We believe in 5 years Tesla will hold around one third global EV
market share, leaving two-thirds of the market up for grabs. The bigger
impact of an Apple Car will be on traditional automakers," he adds.
- Munster didn't name which ones, but presumably Ford (NYSE:F) and
General Motors (NYSE:GM) would be in that category.
- In the near-term, Munster thinks the Apple Car development will likely
weigh on shares of TSLA as investors integrate a new risk factor into
their
investment thesis, although he predicts anticipation of an Apple-branded
car will likely level off in the months ahead. In the longer-term, the
Apple topic is expected to remain and likely have some negative impact on
TSLA's multiple in 2023 and beyond.
- Here is a quick look at some of those valuation marks at the moment.
- More details on Apple's self-driving car plans
|Today, 10:41 PM|12 Comments
- Loup Ventures' Gene Munster weighs in on the impact on Tesla (NASDAQ:
TSLA) from today's blockbuster Reuters report on Apple moving forward on
plans to develop a self-driving car.
- "We see little fundamental risk to Tesla if Apple were to release a
car. EV's today account for 3% of cars sold; in 5 years we expect the
share
of EVs to be closer to 30% of all auto sales."
- "We believe in 5 years Tesla will hold around one third global EV
market share, leaving two-thirds of the market up for grabs. The bigger
impact of an Apple Car will be on traditional automakers," he adds.
- Munster didn't name which ones, but presumably Ford (NYSE:F) and
General Motors (NYSE:GM) would be in that category.
- In the near-term, Munster thinks the Apple Car development will likely
weigh on shares of TSLA as investors integrate a new risk factor into
their
investment thesis, although he predicts anticipation of an Apple-branded
car will likely level off in the months ahead. In the longer-term, the
Apple topic is expected to remain and likely have some negative impact on
TSLA's multiple in 2023 and beyond.
- Here is a quick look at some of those valuation marks at the moment.
- More details on Apple's self-driving car plans
|Today, 10:41 PM|12 Comments
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