What's Next for Tesla's Stock Price?

Tesla's stock price has skyrocketed, almost wiping out all losses this year. Since June 25th, Tesla's stock price has risen for seven consecutive trading days, making CEO Elon Musk's fortune increase by nearly $30 billion, making him the leader on the global rich list. So what will be the future trend of Tesla's stock price?

In the second quarter, Tesla delivered a total of about 444,000 cars, which was higher than the previously predicted 438,000, a year-on-year decrease of about 5%. As Wall Street's lower expectations were in the range of 415,000 cars, the final result was pleasing to the market. Tesla's second-quarter delivery data greatly eased people's concerns about weak demand for electric cars.

Tesla has raised its energy storage to a historic high, indicating that Tesla may benefit from increased energy demand brought about by the artificial intelligence boom. In the second quarter, Tesla deployed 9.4 gigawatt-hours of battery storage products, setting a new record, which was previously 4.1 gigawatt-hours. As generative artificial intelligence (Gen AI) accelerates the multi-generational growth of energy demand, power production, and data center investment, investors will begin to pay more attention to Tesla's energy sector. Musk has successfully shifted investors' focus to long-term opportunities in artificial intelligence, robotics, energy storage, and other business lines, avoiding the challenge of declining car sales in the near future.

Tesla will announce its second-quarter financial report on July 17th. Wall Street expects the company's earnings per share to be 60 cents for the period. Strong delivery data and energy storage deployment are expected to drive second-quarter performance beyond expectations.