Tesla stock is down 50% in the Past 6 Months - Is it Undervalued?

As of 12/27/2022, Tesla’s current share price is $123.15.
Tesla’s earnings per share for the trailing twelve months (TTM) ended in Sept. 2022 was $3.24.
Therefore Tesla’s PE ratio is 38.05 Is this bad? Is this good? Let's Compare
Using comparables within the same industry is very important when using P/E ratios for stock analysis.
Tesla is a Tricky One
Some people consider it a Tech Company
Some people consider it an Automotive Company
I'm going to classify it as an Automotive Company for this example
Comparables - Ford’s P/E ratio is 5.16 - General Motor’s P/E ratio is 5.73 - Toyota’s P/E ratio is 9.26
Compared to other leaders in the Automotive industry such as $F $GM and $TM
Tesla's P/E ratio is nearly 7x more That's a pretty sizable difference
Conclusion:
If you Value Tesla as an Automotive Company there's still some downside left
If you Value Tesla as a Tech company we could be nearing Capitulation soon