Summary
- Dan Ives believes a Trump presidency could have negative effects on the general electric vehicle sector but would benefit Tesla
- Ives estimates that a Trump win could increase Tesla’s market cap by up to $1.5 trillion
- A Trump administration could fast-track Tesla’s autonomous vehicle efforts, according to Ives
- Ives believes a Trump win would push forward Tesla’s Self-driving vehicle fleet deployment
- Ives also anticipates Musk having a significant influence in a Trump administration
Article
Wedbush Securities Senior Equity Analyst Dan Ives believes that a Trump presidency would have a negative impact on the general electric vehicle sector but would benefit Tesla. In an interview with CNBC, Ives stated that a Trump win would be a dream scenario for Tesla bulls and could potentially increase Tesla’s market cap to $1.5 trillion. He mentioned that Trump pulling the EV tax credit could be beneficial for Tesla from a scale and scope perspective.
Apart from the boost to Tesla’s market cap, Ives also predicted that a Trump administration could accelerate Tesla’s efforts to deploy its self-driving vehicle fleet. He mentioned that autonomous FSD and Cybercab projects could be pushed forward by about a year and that Musk would likely have a significant influence within a Trump administration. Ives believes that fast-tracking autonomous driving technology would be a top initiative for Tesla under a Trump presidency.
Ives emphasized that regulatory hurdles have been a challenge for Tesla’s self-driving initiatives and that a Trump win could potentially unlock the opportunity for Tesla to become the most undervalued AI name in the market. He mentioned that Musk has previously discussed the potential of a Robotaxi fleet and that a Trump presidency could help overcome initial negative sentiments towards autonomous driving.
Overall, Ives sees a Trump win as a highly positive development for Tesla and believes that it could add $40-$50 per share to TSLA stock right off the bat. He highlighted the potential for Tesla to reach a market cap of $1-$1.5 trillion under a Trump administration and emphasized the importance of fast-tracking autonomous driving technology as a key initiative for the company. Ives’ insights suggest that a Trump presidency could unlock significant growth opportunities for Tesla and highlight the company’s potential as an undervalued AI name in the market.
Read the full article here
