Hua Er Jie Jian Wen·2025-09-12 13:31Group 1 - Tesla is attempting to pivot towards its robotics business to compensate for current sales struggles and high valuation pressures, with Musk claiming that about 80% of Tesla's value will come from Optimus [1][3] - The market anticipates a nearly 30% decline in Tesla's earnings by 2025, while the Robotaxi business is still years away from profitability and faces fierce competition from rivals like Waymo [1][3] - Tesla's stock is currently valued at approximately 155 times its expected earnings over the next 12 months, making it the highest-valued stock among the "Tech Seven" [1][5] Group 2 - Tesla is facing a core contradiction between its high valuation, which reflects a high-growth company, and its stagnant revenue growth over the past two years [4][5] - The company's forward price-to-earnings ratio has returned to levels seen during the tech stock frenzy of 2021, with a significant drop of about 25% from its peak in December 2022 [5][6] - Investors are experiencing a shifting narrative from Tesla, as Musk has changed the company's focus multiple times, from electric vehicles to autonomous driving and now to robotics [6][9] Group 3 - Musk's renewed focus on the Optimus robot is seen as a potential new growth story to maintain investor confidence, although the market's acceptance of this narrative remains uncertain [7][8] - There are concerns regarding the feasibility and demand for personal robots, as well as Tesla's existing technology issues that could impact safety [8] - Ultimately, many investors view Tesla's value as a bet on Musk's ability to innovate and transform the future of transportation and technology [9]