Tesla's Future Looks Bright With AI -- 2 Reasons I'm All In on the Stock
Artificial intelligence (AI) was certainly a popular trend during 2023. Since the start of the year through mid-December, the tech-heavy Nasdaq Composite Index has had a total return of more than 40% -- handily beating the S 500.
While the advent of generative AI models developed by Microsoft, Alphabet, and Amazon have taken the world by storm, my sights are captured by another AI disruptor. Ark Invest CEO Cathie Wood recently referred to electric vehicle (EV) pioneer (NASDAQ: TSLA) as the biggest AI play in the world. I think she might be right.
Although demand for Tesla's vehicles is strong, I see other reasons to own the stock. Let's explore some of Tesla's AI use cases and assess how these innovations could help the company evolve beyond being just a car manufacturer.
Source Fool.com
Tesla Inc Stock
Currently there is a rather positive sentiment for Tesla Inc with 73 Buy predictions and 29 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.
