Tesla (NASDAQ: TSLA) stock price has the potential to trade around $4000 level in the next ten years, according to Trip Chowdhry of Global Equities Research. TSLA shares are currently trading around $400 level, which means the stock price has to rally massively each year to reach the target price.
Fortunately, the short history of this EV maker stock price performance hints that the $4000 level is not impossible in ten years. Its share price grew more than 1700% in the past 9 years. TSLA shares started trading around $24 at the beginning of 2010 on NASDAQ. The stock price remained range-bound in the first three years of trading; the majority of growth was experienced in the past 6 years.
$4000 Mark is Possible for Tesla Stock Price
Tesla is among the aggressive growth companies that are investing billions of dollars every year to expand their manufacturing and production activities. Trip Chowdhry of Global Equities Research has presented solid arguments to support his prediction.
“Breakthrough products from technology conglomerates GE, TSLA and Google (GOOGL, GOOG) will spur a very strong global demand for their products, thus accelerating revenues and expanding margins,” he said.
Moreover, the analyst claims that Tesla is only the company that has mental capacity along with passion and capital to grow significantly. The analyst added, “Tesla will control the “full life cycle” of deep neural network models that will lead to full self-driving.”
Expectations are High for 2020
The investors are expecting big changes from Tesla in 2020. The company is likely to invest considerably in its production potential amid the massive growth in demand. This is evident from 250K orders for its Cybertruck in the first week of booking.
On the other hand, the company is likely to present several new products in the coming days to capitalize on increasing demand for electric vehicles. The demand for EV’s is likely to increase massively amid its increasing role in curbing global pollution.
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