Tesla(US:TSLA) Zhi Tong Cai Jing·2025-10-23 13:36Core Insights - Tesla's Q3 delivery volume reached a record high, but the company's earnings fell short of expectations, disappointing investors [1] - The overall revenue for Q3 increased by 12% year-over-year to $28.1 billion, surpassing analyst expectations of approximately $26.3 billion, but adjusted earnings per share declined by 30% to $0.50, below the expected $0.54 [1] - Analysts express concerns about Tesla's growth narrative and profitability, indicating that the company's high valuation is vulnerable to market corrections and negative fundamentals [1] Financial Performance - Tesla's Q3 revenue was $28.1 billion, a 12% increase year-over-year [1] - Adjusted earnings per share decreased by 30% to $0.50, missing analyst expectations [1] Analyst Opinions - CFRA analyst Garrett Nelson noted uncertainty regarding Tesla's short- and medium-term profit growth trajectory [1] - Wedbush analyst Dan Ives remains bullish, highlighting significant progress in Tesla's AI strategy and projecting a potential market cap of $2 trillion by early 2026 [1] - Morgan Stanley analyst Adam Jonas stated that Tesla's performance met market expectations and emphasized the importance of Elon Musk's ability to reignite interest in autonomous driving [1] Market Sentiment - Jefferies maintained a neutral stance with a "hold" rating, indicating that Tesla's automotive business is no longer the primary driver of valuation but still generates sufficient free cash flow [2] - Wells Fargo analyst Colin Langan expressed a negative outlook, citing ongoing deterioration in Tesla's core business and slow commercialization of robotaxi and humanoid robot initiatives [2] - Market analyst Bill Maurer warned that Tesla's stock valuation remains extremely high, with short-term earnings weakness likely to suppress the stock price [2]