Tesla reported downbeat earnings, but Dan Ives still see the stock hitting $300 a share.
Tesla's AI-powered Robotaxi will be the start of huge growth for the carmaker, Ives says.
Tesla stock tumbled roughly 12% Wednesday morning, to trade at about $218 a share, as earnings showed its auto business took a big hit in the second quarter.
During Tuesday's earnings call, Musk announced Tesla's Robotaxi rollout has been delayed to October 10th, months after the initial reveal date in early August.
Advertisement"The next phase of the Tesla growth story is around autonomous, Robotaxis, and AI playing out," Ives wrote in a note on Wednesday.
Persons:
Tesla, Dan Ives, Ives, —, there's, Tesla's, Musk
Organizations:
Service, Wedbush Securities, Bank of America