Core Viewpoint - Tesla is shifting its focus from electric vehicle production to robotics, announcing the discontinuation of the Model S and Model X to allocate resources for manufacturing Optimus robots, following its first annual revenue decline [1]. Group 1: Production Changes - Tesla will cease production of the older Model S and Model X vehicles to repurpose factory space for its Optimus robots [1]. - The company is facing challenges in its transition to self-driving cars and robotics, with plans for Cybercabs (robotaxis) hindered by capacity issues and regulatory hurdles [3]. Group 2: Financial Investments - Tesla's investment is set to more than double to $20 billion this year, with $2 billion allocated to its artificial intelligence division, xAI [2]. - The increased spending aims to fulfill promises made by CEO Elon Musk regarding the company's transition towards advanced technologies [3]. Group 3: Market Position and Competition - Tesla is exploring new revenue streams as competition in the electric vehicle market intensifies, particularly with BYD surpassing Tesla to become the world's largest EV manufacturer [5]. - The company has experienced revenue and profit declines due to backlash against Musk's cost-cutting measures and competitive pricing from rivals [5][6]. Group 4: Stock Performance and Investor Sentiment - Tesla shares rose by 2% in after-hours trading, reflecting cautious gains attributed to AI-driven turnaround plans [11]. - There are concerns among investors regarding Musk's ability to manage multiple ventures, including a potential public offering for SpaceX [11].

Core Viewpoint - U.S. stock futures are trading higher, with Microsoft and Apple expected to attract investor attention due to their recent financial performances [1] Group 1: Microsoft Corp. (NASDAQ:MSFT) - Microsoft reported second-quarter revenue of $81.3 billion, representing a 21% year-over-year increase, surpassing the Street consensus estimate of $80.25 billion [1] - The company achieved non-GAAP earnings per share of $4.14, exceeding the Street consensus estimate of $3.86 [1] - Despite the strong financial results, Microsoft shares fell 6.1% to $452.04 in after-hours trading [1] Group 2: Apple Inc. (NASDAQ:AAPL) - Analysts anticipate Apple to report quarterly earnings of $2.67 per share on revenue of $138.42 billion [1] - Apple shares experienced a slight increase of 0.1%, reaching $256.79 in after-hours trading [1]

Core Viewpoint - Tesla's CEO Elon Musk announced the discontinuation of the Model S sedan and Model X SUV, marking a strategic shift towards a focus on autonomous driving technology [1][3][4] Group 1: Production and Transition - The final production batch of Model S and Model X will be completed in the next quarter, after which both models will officially cease production [1][3] - The Fremont factory, currently producing Model S and Model X, will transition to manufacturing the Optimus humanoid robot, indicating Tesla's future industry focus [3] Group 2: Market Context and Strategy - Sales of Model S and Model X have stagnated due to changing market conditions and increased competition from traditional automakers and emerging brands like Rivian and Lucid Motors, as well as Chinese domestic brands [4] - The decision to discontinue these models is seen as a necessary adjustment for Tesla to respond to market changes and concentrate on its core strategy of developing autonomous driving technology [4]

受此消息影响，周四美股夜盘，特斯拉股价上涨2.4%，报441.83美元。 营收承压但超预期 财报显示，2025年第四季度，特斯拉总营收达249.01亿美元，较去年同期的257.07亿美元下滑3%，略超 预期的247.9亿美元。 盈利端承压明显，四季度营业利润为14.09亿美元，同比下滑11%；净利润8.4亿美元，同比暴跌61%。 非GAAP口径下调整后的每股收益（EPS）为0.50美元，同比下降17%，显著高于预期的0.45美元。 年营收首降、Q4净利暴跌61%，特斯拉交出一份不理想成绩单。 由于核心汽车业务承压，特斯拉全年营收同比下滑3%，创下历史首次年度营收降幅。 不过，公司四季度营收与调整后每股收益均超出市场预期。 | Printered | | | | | | | | --- | --- | --- | --- | --- | --- | --- | | ($ in millions, except percentages and per share data) | Q4-2024 | Q1-2025 | Q2-2025 | Q3-2025 | Q4-2025 | YoY | | Total auto ...

Market Analysis by covering: S&P 500, Microsoft Corporation, Crude Oil WTI Futures, Tesla Inc. Read 's Market Analysis on Investing.com ...

Core Insights - The humanoid robot industry is experiencing strong growth, with accelerated product iterations and significant advancements in technology [1] - Companies like Yushu are projected to ship over 5,500 humanoid robots by 2025, with mass production exceeding 6,500 units [1] - Tesla's CEO Elon Musk indicated the potential public sale of the Optimus robot by the end of next year [1] Policy Developments - The Ministry of Industry and Information Technology is set to release guidelines for the construction of a comprehensive standardization system for humanoid robots and embodied intelligence [1] - Shenzhen is encouraging insurance institutions to innovate insurance products in cutting-edge technology areas, including humanoid robots [1] Technological Advancements - OpenAI has established a humanoid robot laboratory, indicating ongoing technological updates in the sector [1] - Youyou Technology has launched its first automated production line for robot joints in Zhangjiang, Shanghai, which will help meet demand and reduce costs [1] - UBTECH has partnered with Airbus to explore applications of humanoid robots in the aerospace manufacturing sector [1] Investment Opportunities - The Robot Industry ETF (159551) tracks the Robot Index (H30590), which focuses on companies in industrial automation and service robots, reflecting the overall performance of publicly listed securities in the robot sector [1]

然而，商业世界没有永恒的丰碑，只有流动的效率和需求。Model S和X的停产，早已是进行时。销量上，它们早已被更大众的Model Y和Model 3淹没，占 比微小。成本上，它们产自相对老旧、成本更高的弗里蒙特工厂，而非上海超级工厂这样的效率标杆。在特斯拉整体毛利率承压、面临空前价格战的今天， 保留两款叫好但未必叫座的小众高端车型，在经济账上已不划算。 图片系AI生成 当一家公司的创始人亲手按下旗舰产品的"停产键"，这通常不是庆功的信号，而是背水一战的号角。 北京时间2026年1月29日，马斯克在特斯拉的财报电话会上宣布，Model S和Model X将在下一季度正式停产，体面退役。与此同时，特斯拉交出了上市以来 第一份年度营收下滑的财报：2025年总营收948亿美元，跌了3%；净利润37.9亿美元，近乎腰斩，暴跌46%；全球汽车交付量连续第二年下滑，少了8.6%。 冰冷的数字背后，马斯克却在描绘一个近乎科幻的未来：加州弗里蒙特工厂的轿车生产线将让位于Optimus人形机器人的批量制造；没有方向盘和踏板的 Cybercab出租车即将驶上街头；公司今年要豪掷超过200亿美元（约合人民币1389亿元），全力押注自 ...

Core Insights - Tesla Inc. has disclosed the total number of active Full Self-Driving (FSD) subscriptions, reporting 1.1 million active subscribers globally during its fourth-quarter earnings call [2]. Group 1: FSD Subscriptions - The company reported 1.1 million active FSD subscribers, with over 70% of these being upfront purchases [2]. - Tesla is transitioning to a subscription-only model for FSD starting next month, which is expected to impact automotive margins [2]. - The subscription is priced at $99 per month, with an upfront payment option of $8,000 available until February 14 of this year [2]. Group 2: Future Projections and Investments - The transition to a subscription model could help Tesla achieve its goal of reaching 10 million active subscriptions, a milestone linked to CEO Elon Musk's compensation package [2]. - Tesla announced a $2 billion investment in Musk's artificial intelligence company, xAI, with the deal expected to finalize in the first quarter of 2026, pending regulatory approval [3]. - Tesla's stock price increased by 2.01% to $440.13 during overnight trading following the earnings call [3].

Core Viewpoint - Tesla is ending production of the Model S and Model X to focus on new projects, including humanoid robots and autonomous driving technology [1][2][5]. Production Changes - The production of Model S and Model X will cease, with Musk referring to this as an "honorable discharge" and encouraging customers to place orders before stocks run out [1][2]. - The Fremont factory will be repurposed to manufacture Tesla's humanoid robots, Optimus, with plans to achieve a production line of 1 million units per year [6]. Financial Performance - Tesla experienced its first annual revenue decline, with a decrease of approximately 3% to nearly $94.83 billion in 2025 [4]. - Adjusted earnings per share for Q4 were 50 cents, surpassing Wall Street expectations of 45 cents, while net income fell 61% to $840 million [4]. - The company is projected to deliver 1.77 million vehicles in 2026, representing an 8.2% increase [4]. Market Focus - Tesla's sales are primarily driven by the Model 3 and Model Y, which together accounted for 97% of deliveries in 2025, totaling 1.59 million units [3]. - The company is shifting its focus towards driverless cars and humanoid robots, areas that currently lack significant business or profits [5]. Semiconductor Strategy - Musk announced plans for Tesla to build a "TeraFab" for semiconductor manufacturing to mitigate future supply chain constraints [7]. - The company currently relies on external suppliers for chips, including Micron Technology, Samsung, and TSMC [8]. Geopolitical Considerations - Musk emphasized the importance of addressing geopolitical risks in the semiconductor supply chain, suggesting that these factors may become increasingly significant in the coming years [9].

转自：定焦One 文｜定焦One 金玙璠 编辑 | 魏佳 一边是净利润腰斩，一边是股价创新高。 这就是特斯拉2025年的状况。1月29日，其披露的2025年第四季度及全年财报显示，核心的汽车业务完 全失速：全年交付163.6万辆，连续第二年下滑；全球电动车销冠的宝座被比亚迪夺走；汽车业务全年 营收（695.3亿美元）同比下降10%，毛利率跌至15.4%（剔除监管积分收入后），单车毛利润为4742美 元（约合3.3万人民币）。 马斯克在财报会上宣布，停产Model S和Model X，产品线收缩。 价格战的阴影下，特斯拉全年总收入948.3亿美元，同比下降3%；净利润（GAAP）近乎腰斩，从2024 年的70.9亿美元跌至37.9亿美元。 Q4表现更加惨淡，营收249亿美元，净利润仅8.4亿美元，同比暴跌61%。 但资本市场却将特斯拉的股价推到了历史新高。从2025年年初到4月，因公司基本面承压、马斯克"沉 迷"政治，股价一度跌至221美元的低点。但从4月马斯克宣布增持开始，风向变了。特别是进入下半 年，Robotaxi的路测进展、FSD的版本更新、股东大会上通过的新薪酬方案……马斯克靠一系列操作把 市场情绪的 ...