Tesla Makes Money Selling Electric Vehicles, But 86% of Its Earnings Might Soon Come From This Instead
Electric vehicle (EV) sales account for more than 81% of 's (NASDAQ: TSLA) total revenue at the moment. The company could sell more than 2 million units this year, making it one of the largest EV manufacturers in the world.
But technology investor Cathie Wood thinks artificial intelligence (AI) -- not EV sales -- is the best reason to own Tesla stock. The company is using AI to develop its autonomous full self-driving (FSD) software, which has already completed billions of real-world miles in beta mode.
Wood's firm, Ark Investment Management, just released a fresh set of financial models suggesting that EV sales won't be the driving force behind Tesla's success for much longer. With the help of AI, Ark predicts 86% of the company's earnings will come from something else entirely.
Source Fool.com
Tesla Inc Stock
Currently there is a rather positive sentiment for Tesla Inc with 73 Buy predictions and 28 Sell predictions.
As a result the target price of 245 € shows a positive potential of 21.08% compared to the current price of 202.35 € for Tesla Inc.
