中国基金报·2025-07-24 10:01Group 1: Tesla Performance - Tesla's stock price fell over 6% in pre-market trading on July 24 due to disappointing earnings results [2][3] - The latest financial report indicated a 16% decline in automotive revenue, marking the second consecutive quarter of sales decline, and falling short of analyst expectations [5][6] - In Q2, Tesla's automotive revenue was $16.7 billion, down from $19.9 billion year-over-year, with revenue from regulatory credits dropping to $439 million from $890 million [6] Group 2: Tesla's Market Challenges - Tesla's Q2 vehicle deliveries decreased by 14% year-over-year to 384,000 units, attributed to backlash in the U.S. and Europe against CEO Elon Musk's political affiliations and actions [7] - Year-to-date, Tesla's stock has declined approximately 18%, underperforming compared to the Nasdaq index, which has risen about 9% [7] - The company's stock began to decline after CFO mentioned the impact of a recent "big and beautiful bill" affecting Tesla's business, specifically the expiration of the $7,500 federal EV tax credit by the end of September [7] Group 3: Future Outlook for Tesla - Elon Musk emphasized future developments in Robotaxi and Optimus robots, aiming for half of the U.S. population to access autonomous ride-hailing services by the end of the year, pending regulatory approval [8] Group 4: STMicroelectronics Performance - STMicroelectronics' stock plummeted 10% on July 24, marking its largest drop in a year due to unexpected restructuring losses and lower-than-expected guidance for the upcoming quarter [9][10] - Adjusted earnings per share were $0.40, below the expected $0.43, and revenue was $2.25 billion, slightly below the forecast of $2.274 billion [11] - The company reported an adjusted operating loss of $133 million in Q2, contrasting with analyst expectations of a $54 million profit, and projected Q3 gross margin to remain at 33.5%, below the market expectation of 35.4% [12] Group 5: Industry Challenges for STMicroelectronics - The automotive sector, which accounts for a significant portion of STMicroelectronics' revenue, is facing challenges due to global trade tensions and tariffs disrupting the market [12][13] - The company experienced a 14% year-over-year revenue decline to $2.77 billion, slightly above analyst expectations, and anticipates Q3 revenue to rise to approximately $3.17 billion, aligning with market forecasts [12] - Recent performance issues have drawn criticism from the Italian government, which, along with France, holds over 25% of the company's shares [13]