Here's Tesla's (TSLA) stock path to $4 trillion market cap

Core Viewpoint - Tesla's market capitalization target of $4 trillion is being discussed, with recent price surges following better-than-expected Q3 2024 results indicating a potential path to this goal [1][4]. Stock Performance - Tesla's stock surged almost 23% in one week, reaching a price of $269.19, reversing losses for 2024 and resulting in a year-to-date gain of over 8%, leading to a market cap of $864 billion [1][6]. - The stock is beginning to break out from a multi-year consolidation phase, setting new 12-month highs, and is forming a "cup-and-handle" pattern, which signals a potential breakout [3][5]. Technical Analysis - Key price levels for Tesla's stock include approximately $600, $800, and $1,200 per share, with a bullish scenario potentially reaching $1,243, which could push the market cap above $4 trillion [3][4]. - The stock displays a "double gap" formation, indicating potential future volatility, and the stochastic oscillator supports the current rally [5][6]. Fundamental Analysis - Achieving a $4 trillion market cap would likely require additional catalysts from Tesla's product lineup and advancements in autonomous technology [4]. - Analysts suggest viewing Tesla not just as an EV company but also as an AI equity, with some considering it the most underpriced AI play in the market [4][6]. - Q3 results showed a year-over-year revenue growth of 7.85% to $25.18 billion, with mixed price targets set between $250 and $300 [6].