Retail investors have shifted their favored stocks on the Robinhood platform, with electric-vehicle maker Tesla (NASDAQ: TSLA) surpassing previously dominant tech stocks Apple (NASDAQ: AAPL) and Nvidia (NASDAQ: NVDA) on the “100 Most Popular” list as of June 23. Tesla’s shares closed at $348.68, with a projected upside of 646% to $2,600 by 2029 according to Ark Invest’s Cathie Wood.
Apple’s net income is projected to decline from $99.8 billion in fiscal 2022 to $93.7 billion by fiscal 2024, while Nvidia faces challenges from increased competition and export restrictions, impacting its status as a leader in AI technology. Tesla’s growth is underscored by its plans for AI-driven robotaxi operations, which may account for 63% of its estimated $1.2 trillion in annual sales by 2029.
