Elon Musk's eye-opening statements on Tesla's earnings call
Elon Musk's Promise to Tesla Fans and Investors
Tesla's revenue for Q3 was $21.45 billion, a record but short of analysts' estimates of $21.96 billion.
The company's CEO made the promise after mixed third-quarter earnings, announcing that $Tesla (TSLA.US)$ was going to have an "epic" end of the year despite third quarter results which somewhat disappointed the markets.
The company's CEO made the promise after mixed third-quarter earnings, announcing that $Tesla (TSLA.US)$ was going to have an "epic" end of the year despite third quarter results which somewhat disappointed the markets.
"We're looking forward to a record breaking Q4," Musk told analysts in his opening remarks. "It looks like we'll have an epic end of year." "Q4 is looking extremely good."
About Tesla's Potential Future Value
Musk now claims that Tesla has the potential to become the most valuable company in the world, saying he thought the company could "far exceed" Apple's current market capitalization.
"I see a potential path for Tesla to be worth more than $Apple (AAPL.US)$ and Saudi Aramco combined," Musk continued. "Now that doesn't mean it will happen or that it'll be easy. In fact, I think it will be very difficult and require a lot of work, some very creative new products, mass expansion and – always – luck."
"For the first time, I see a way for Tesla to be, let's say, roughly twice the value of Saudi Aramco," Musk added.
$Apple (AAPL.US)$ has a market cap of $2.31 trillion at the moment. Tesla's current market cap is $695 billion, which is 30% of Apple's market cap. Musk believes Tesla's market cap can be worth over $4 trillion (2x Saudi Aramco) or over $4.3 trillion (roughly Apple and Saudi Aramco market caps combined).
"I see a potential path for Tesla to be worth more than $Apple (AAPL.US)$ and Saudi Aramco combined," Musk continued. "Now that doesn't mean it will happen or that it'll be easy. In fact, I think it will be very difficult and require a lot of work, some very creative new products, mass expansion and – always – luck."
"For the first time, I see a way for Tesla to be, let's say, roughly twice the value of Saudi Aramco," Musk added.
$Apple (AAPL.US)$ has a market cap of $2.31 trillion at the moment. Tesla's current market cap is $695 billion, which is 30% of Apple's market cap. Musk believes Tesla's market cap can be worth over $4 trillion (2x Saudi Aramco) or over $4.3 trillion (roughly Apple and Saudi Aramco market caps combined).
About the Twitter Deal
Elon Musk said he is "excited about the Twitter situation," but also admitted that he's "obviously" overpaying to acquire $Twitter (Delisted) (TWTR.US)$.
"I think it's an asset that has sort of languished for a long time but has incredible potential," he said. "Although obviously myself and the other investors are obviously overpaying for it right now, the long-term potential for Twitter in my view is an order of magnitude greater than its current value."
Source: Tesla, Dow Jones Newswires
Source: Tesla, Dow Jones Newswires
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Macdonell J : Did Musk mention when he is going to offload his shares to pay for Twitter acquisition?
Mrrichierich : The FUD is strong AF against Elon, when EVERYONE & their gd brothers know it’s probably the LARGEST Company with the highest upside IN THE FKN WORLD!! But the haterz and leftards wanna beat him into submission
!! Keep trying fucko’s and good luck with that lol!!!
Nasty WangWang Macdonell J : someone said is Friday
71518529 Mrrichierich : Totally agree with you!!