“`html
Tesla (NASDAQ: TSLA) has experienced a staggering 2,000% increase over the past decade but is down about 14% in 2023. In the last three years, the company’s performance has fallen short of the Nasdaq 100 Index, which has seen an 88% cumulative return. Factors contributing to Tesla’s decline include a 13% year-over-year drop in EV deliveries, a 20% decrease in automotive sales, and a significant 66% reduction in total operating income last quarter.
In the past 12 months, Tesla posted $7 billion in operating income, down 50% from previous highs. The company’s future plans include launching a self-driving taxi network, which CEO Elon Musk has touted but has yet to materialize. Currently, Tesla is valued at a trillion-dollar market cap with a P/E ratio of 178, indicating overvaluation as sales and margins decline amidst increasing competition.
“`
