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Net profit is set to increase at its slowest rate in three years, according to Refinitiv estimates. Reuters GraphicsThere are some early signs that the price cuts are working, with Chinese EV makers XPeng and Seres (601127.SS) slashing prices of their EVs in response and data showing a surge in Tesla's China sales. There was also an uptick in U.S. orders for Tesla vehicles in December after the company rolled out the cuts, according to YipitData. WALL STREET SENTIMENT* Of the 42 analysts covering the company, 25 rate the stock "buy" or higher, 12 rate it "hold" and five rate it "sell" or lower. Tesla's shares, which have more than halved in the past 12 months, closed at $143.75 on Monday.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC’s full interview with Morningstar analyst Seth Goldstein on TeslaMorningstar analyst Seth Goldstein joins CNBC’s 'Squawk on the Street' to explain why they reduced Tesla's fair value estimate to $220 per share from $250.
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTesla will deliver more than 5 million vehicles by 2030, says Morningstar analyst Seth GoldsteinMorningstar analyst Seth Goldstein joins CNBC’s 'Squawk on the Street' to explain why they reduced Tesla's fair value estimate to $220 per share from $250.
Tuesday's slide knocked off nearly $50 billion in market value, roughly equal to the valuation of rival Ford Motor Co (F.N), which last year sold three times as many cars as Tesla. The sell-off came after Tesla missed market expectations for fourth-quarter deliveries despite shipping a record number of vehicles. Tesla's market value has declined by about $370 billion since Chief Executive Elon Musk closed the deal to buy social media firm Twitter. Tesla shares biggest loser among Big Tech Tesla shares biggest loser among Big Tech since AprilTesla delivered 405,278 vehicles in the fourth quarter, short of analysts' estimates of 431,117. The gap between production and deliveries has widened to 34,000 vehicles as more cars got stuck in transit.
Amazon has said warehouse workers can take breaks for activities like using the bathroom, talking to coworkers and managers, and grabbing snacks. A worker on an Amazon warehouse floor can be tasked with packing hundreds of boxes an hour. A worker on an Amazon warehouse floor can be tasked with packing hundreds of boxes an hour. But the Amazon Labor Union, a new union led by current and former Amazon workers, said its Staten Island victory had energized other workers. "There's one Amazon facility that's being built right behind the Victorville facility as we speak," he said.
read moreThe COVID-19 related suspension of Tesla's Shanghai factory, the costs of ramping up new factories in Berlin and Texas and rising supply chain costs are likely to have weighed on its first-quarter earnings, analysts said. read moreTesla navigated the global supply chain crisis better than other rivals, posting record deliveries and earnings for several quarters. But its factory in Shanghai was shut for more than three weeks, after the city rolled out lockdown measures to combat a surge in COVID-19 cases. Tesla resumed production at its Shanghai plant on Tuesday, according to a news report, but a source said this may not mean a return to full production. Reuters GraphicsMusk delivered Tesla's first Texas-made Model Y vehicles at a glitzy event earlier this month, but no Texas vehicles are listed on Tesla's order website yet.
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