Tesla’s Q2 Performance and Stock Outlook
Tesla delivered 480,126 vehicles in Q2 2026, marking a 25% increase year-over-year and the highest quarterly total since Q3 2025. However, the company’s stock price is currently at $391, down 22% from its 52-week high of $498.83. Wells Fargo has raised its price target for Tesla to $130, suggesting a potential decline of about 67% from current levels.
In Q1, Tesla’s operating margin fell to 4.2%, down from 5.7% in Q4 2025, resulting in a net income of $477 million on $22.4 billion in revenue. This translates to an earnings per share of $0.13. At its current price, Tesla’s stock trades at approximately 360 times its earnings, indicating a high valuation amid concerns of declining profitability.
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