Tesla Stock Could Be Worth More Than Apple and Saudi Aramco Combined, According to Elon Musk
Tesla (NASDAQ: TSLA) is currently valued at $690 billion, making it the sixth-largest public company in the world. However, CEO Elon Musk made the following comment during the latest earnings call: "I see a potential path with Tesla worth more than Apple and Saudi Aramco combined." That bold statement values the company at $4.5 trillion, and others on Wall Street are even more optimistic.
Asset management firm Ark Invest published a valuation model earlier this year that discusses three possible scenarios. The most optimistic of the three (i.e., the bull scenario) values Tesla at $6.7 trillion by 2026. Similarly, New Street Research analyst Pierre Ferragu said he believes Tesla could be worth $10 trillion by 2030, but only if the company achieves its production target of 20 million cars per year.
Those bullish forecasts imply significant upside for Tesla shareholders, ranging from 550% to 13,490%. But bears will undoubtedly argue the stock is already overvalued, as Tesla is currently worth more than the next eight automakers combined.
Source Fool.com
