复刻1350%的股价涨幅？特斯拉的“野心”、投资者的“愿望”与接下来的关键节点

Core Insights - Tesla's recent shareholder meeting resulted in a significant CEO compensation plan and an ambitious vision for AI, robotics, and autonomous driving, drawing investor attention to its potential for future growth [1][3] Group 1: CEO Compensation Plan - The 2025 CEO incentive plan received over 75% approval at the annual shareholder meeting, allowing for stock grants up to 12% of the current total shares, potentially worth around $1 trillion [1][3] - The plan's milestones include increasing the company's market cap from $2 trillion to $8.5 trillion and achieving operational goals such as delivering 1 million robots and operating 1 million Robotaxis [1][2] Group 2: Market Expectations - Investors are viewing the new compensation plan through the lens of the 2018 incentive plan, which saw Tesla's stock rise approximately 1350% since its announcement, compared to a 130% increase in the S&P 500 during the same period [1][3] - Goldman Sachs maintains a neutral rating on Tesla, citing more cautious profit expectations for its autonomous driving and robotics businesses, while setting a 12-month price target of $400, indicating a potential downside of 10.3% from the current stock price [3] Group 3: Product Roadmap and Milestones - Tesla's product roadmap includes plans for the Optimus humanoid robot, with production of version V3 expected to start in 2026, and aims for a production capacity of 100 million robots annually [4] - The company anticipates advancements in Full Self-Driving (FSD) technology, with features allowing users to text while driving expected in the next 1-2 months [4] - Key operational milestones include the removal of safety observers from Robotaxi services by year-end and a target to increase annual vehicle production capacity by 50% by the end of next year [4] Group 4: Semiconductor Strategy - Tesla plans to collaborate with Samsung and TSMC to produce its AI5 chips and aims to start production of AI6 chips within a year of AI5's launch, exploring the possibility of building its own wafer fabrication plant to meet future chip demands [4]