Tesla's Energy Business: Faster-Growing and Now More Profitable Than Its Auto Business
On Wednesday, electric vehicle (EV) pioneer (NASDAQ: TSLA) released third-quarter 2023 results that disappointed investors, who drove shares down 9.3% on Thursday. That reaction stemmed from a few factors: revenue and earnings missing Wall Street's expectations, the gross margin's continued decline resulting from the company's ongoing vehicle price cuts, and CEO Elon Musk's cautious tone on the earnings call.
But there was an electrifying bright spot in Tesla's Q3 report: the performance of its energy generation and storage segment. This business has two parts -- energy storage and solar. The former's products include lithium-ion-battery-based stationary energy storage systems (Powerwall for residential, Powerpack for businesses, and Megapack for utilities and large-scale commercial projects), while solar's products include solar panels and solar roof tiles.
Let's dive into this business, which isn't getting enough attention.
Source Fool.com
Tesla Inc Stock
Currently there is a rather positive sentiment for Tesla Inc with 72 Buy predictions and 29 Sell predictions.
As a result the target price of 240 € shows a slightly positive potential of 20.0% compared to the current price of 200.0 € for Tesla Inc.
