利空！马斯克，突传重磅！

Group 1: Tesla Delivery Forecasts - Tesla is expected to deliver approximately 440,900 vehicles in Q4 2025, representing an 11% year-over-year decline, marking a second consecutive year of declining deliveries [1][2][3] - The annual delivery forecast for Tesla in 2025 is projected at 1.6408 million vehicles, down nearly 8% from 1.789 million in 2024, which was the first annual decline in over a decade [3][10] - Analysts have significantly revised their delivery expectations for Tesla in 2026 from over 3 million vehicles to about 1.8 million [1][4] Group 2: Factors Affecting Tesla's Performance - The decline in Q4 2025 deliveries is attributed to the expiration of the U.S. federal electric vehicle tax credit in September, which previously provided up to $7,500 in incentives, leading to a surge in Q3 sales that depleted Q4 demand [4][11] - Analysts suggest that investors are focusing on Tesla's long-term potential while overlooking short-term financial fluctuations, which are now under pressure due to the cancellation of tax credits, increased global competition, and regulatory challenges in Europe [4][11] Group 3: Tesla's Stock Performance - As of December 31, 2025, Tesla's stock has experienced a six-day consecutive decline, closing down over 1% at $449.72 per share, resulting in an approximate 8% total pullback, although the stock is still up about 11% for the year [4][12] - Tesla's price-to-earnings ratio is nearing 300, which places significant pressure on the company to fulfill its autonomous driving commitments [4][12] Group 4: SpaceX Satellite Operations - SpaceX announced plans to lower the operational altitude of approximately 4,400 Starlink satellites from about 550 kilometers to 480 kilometers to reduce collision risks and space debris [5][6][13] - This adjustment is also linked to solar activity cycles, which affect atmospheric density, potentially extending the natural orbital decay time of satellites at higher altitudes [6][14] - The low Earth orbit is becoming increasingly congested, with SpaceX deploying over 3,000 satellites in 2025 alone, averaging nearly one new satellite launched every three days [6][14]