Tesla (TSLA) earnings are due out tomorrow — Tuesday, July 23 — as the EV maker seeks to unveil its own robotaxi this October and rollout humanoid robots in its factories in 2025. Roth MKM senior research analyst Craig Irwin has a Neutral rating on Tesla stock with a price target of $85 per share, believing the company to be “egregiously overvalued.”
Irwin sits down with Seana Smith and Madison Mills on The Morning Brief to discuss Tesla’s pivot into other realms of tech and why fundamentals may matter the most this quarter.
“It was widely expected they were going to they were going to have a weak quarter. And it actually ended up being a pretty pretty strong quarter. They’re still down 5% year over year in deliveries and there’s about $5,000 a unit in discounting,” Irwin explains. “So it’s about 250 basis points and probable margin erosion sequentially, so they still got margin problems, they still got growth problems. But the valuation, I mean, the run in the stock in the last month has been pretty substantial.”
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This post was written by Luke Carberry Mogan.
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