计算机行业点评：特斯拉：AI与储能业务双轮驱动，自动驾驶对算力需求持续增长

Investment Rating - The report maintains a "Recommended" rating for the industry, indicating an expected growth of over 10% relative to the benchmark index [6]. Core Insights - The report highlights that Tesla's revenue for Q3 2024 reached $25.182 billion, a year-on-year increase of 7.85%, with a net profit of $2.167 billion, reflecting a growth of 16.95% [13]. - The report emphasizes the strong performance of Tesla's energy generation and storage business, which saw a revenue increase of 52.14% year-on-year [13]. - The demand for computing power continues to grow, with capital expenditures increasing by 43% year-on-year, primarily driven by investments in AI technology and data center expansion [15][18]. - The report suggests that the integration of AI technology is expected to drive long-term growth in the automotive market, with a focus on companies like Microsoft and Google [19]. Summary by Sections Market Performance - The computer sector has shown a performance of -7.1% over the last month, 11.0% over the last three months, and 4.4% over the last year, compared to the CSI 300 index which has shown a performance of 0.5%, -2.1%, and 14.7% respectively [1]. Company Performance - Tesla's Q3 2024 vehicle production reached 470,000 units, a 9% increase year-on-year, with deliveries also hitting a record of 463,000 units [13]. - The gross margin for the energy business was reported at 30.5%, an increase of 596 basis points, attributed to the expansion of Supercharging and service operations [14]. Financial Projections - The report projects that Tesla's capital expenditures will continue to grow, with Q3 2024 expenditures reaching $3.513 billion, a 43% increase year-on-year [18]. - The report includes earnings per share (EPS) projections for Microsoft and Google, with ratings of "Buy" for both companies [21].