Key Points
Tesla (NASDAQ: TSLA) has seen its stock decline by 6% this year, in contrast to an 8% rise in the S&P 500. This downturn is attributed to macroeconomic challenges and raised capital expenditures. Despite a weak first quarter, where EV sales in the U.S. dropped by 27% year over year, analyst Mark Delaney from Goldman Sachs projected that Tesla’s Q2 deliveries could reach 420,000, exceeding the consensus estimate of approximately 396,466 to 406,024. The delivery report is expected around July 2.
Tesla’s upcoming reveal of the Optimus 3 humanoid robot is also anticipated in late July or early August, which could further influence share prices if demand proves strong. The company has faced challenges, including expiring EV tax credits and increased competition from rivals like Rivian (NASDAQ: RIVN).
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