Dan Ives Says Tesla Robotaxi Is 'Biggest Competitive Threat' To Uber, Predicts Optimus Robots Would Be In People's Houses In '2 To 3 Years' - Tesla (NASDAQ:TSLA)

Core Viewpoint - Dan Ives from Wedbush Securities believes Tesla's robotaxis could significantly threaten Uber's business, highlighting Tesla as an undervalued player in AI [1][2]. Group 1: Tesla's Autonomous and Robotics Efforts - Ives emphasizes that Tesla is entering a "golden chapter" in terms of its AI, autonomous, and robotics initiatives, suggesting strong reasons to invest in the stock [2]. - He predicts that Tesla's autonomous driving technology will be the leading consumer application, with the potential to establish a Robotaxi network if a million vehicles are deployed [3]. Group 2: Market Position and Competitive Threats - Ives identifies Tesla's Robotaxi network as a major competitive threat to Uber, noting that Tesla owners could contribute their vehicles to the network, providing a scale advantage [3]. - Elon Musk has indicated plans for driverless Robotaxis in Austin by year-end, with ambitions to expand to 8-10 major U.S. cities, although he tempered expectations regarding serving half the U.S. population [5]. Group 3: Financial Performance - Tesla reported revenue of $28.095 billion, surpassing Wall Street's expectation of $26.239 billion, but fell short on earnings per share (EPS) with $0.50 compared to the expected $0.54, marking the fourth consecutive EPS miss [6]. Group 4: Leadership and Compensation - Musk defended his compensation package, asserting Tesla's market capitalization exceeds that of all its automotive competitors, currently over $1.4 trillion [7]. - He criticized proxy advisory firms for their opposition to his pay package, labeling them as "corporate terrorists" [7].