Core Viewpoint - Tesla's stock has faced a decline of 25% in the first four months of 2025, but Cathie Wood predicts a potential increase to over $2,600 per share in the long term, attributing this growth to the anticipated launch of a robotaxi network in 2026 [1][4]. Group 1: Sales Growth and Product Lineup - Historically, Tesla's sales growth has been driven by new product introductions, with significant sales increases following the launch of luxury models and mass-market vehicles like the Model 3 and Model Y [2]. - In 2022, Tesla delivered approximately 1.8 million vehicles, with over 1.7 million being Model 3 or Model Y [2]. - Analysts predict negative sales growth for Tesla in 2025 due to a lack of recent product introductions, as the Model 3 and Model Y have been in the market for eight and five years, respectively [3]. Group 2: Future Catalysts - Wood believes that a major new product in 2026, specifically Tesla's robotaxi network, will significantly impact Tesla's share price, shifting focus from vehicle sales to service revenue [4][6]. - Elon Musk has indicated that Tesla will begin production of a fully autonomous vehicle, referred to as the Cybercab, in 2026, which could position Tesla at the forefront of an autonomous car-sharing market [6]. Group 3: Market Comparisons and Valuation - Tesla has shipped over 7 million vehicles since inception, with an estimated 5 million currently on the road, while Uber has around 8 million monthly active drivers and a market cap of $160 billion [7]. - Tesla is expected to achieve higher margins than Uber due to not sharing revenues with drivers, but it will still need to share revenues with car owners, raising questions about the valuation gap between Wood's predictions and Uber's actual market cap [8]. - While autonomous driving could expand the ride-sharing market, current numbers do not support Wood's optimistic valuation of Tesla reaching trillions in market cap [9].