Core Viewpoint - Tesla's recent production and delivery numbers were deemed "better than feared" by analyst Dan Ives, despite falling short of internal targets [1][2]. Delivery and Production Summary - Q4 2025 deliveries totaled 418,227 vehicles, approximately 1.1% below Tesla's internal analyst consensus of 422,850 and nearly 3.4% under Visible Alpha's estimate of 432,810 [8]. - Q4 2025 production reached 434,358 vehicles, lagging behind Bloomberg's consensus of 470,780 by about 7.7% [8]. - Full-year 2025 deliveries amounted to 1,636,129 vehicles, closely aligning with Tesla's compiled consensus of 1,640,752 and near third-party expectations of around 1.65 million [8]. - Full-year 2025 production was 1,654,667 vehicles, indicating that Tesla produced slightly more than it delivered [8]. - Energy storage for Q4 reached a record 14.2 GWh, surpassing Tesla's compiled consensus of 13.4 GWh by nearly 6% [8]. Market Context and Challenges - Tesla's delivery numbers are under pressure due to the loss of the $7,500 U.S. tax credit and ongoing challenges in Europe, but the overall report suggests stability rather than decline [3][9]. - The competitive landscape is intensifying, with Chinese EV manufacturer BYD selling 4.6 million vehicles, including nearly 2.26 million battery EVs, significantly outpacing Tesla's 1.64 million deliveries [14]. - Other competitors like Geely, NIO, and Li Auto also reported strong late-year numbers, emphasizing the competitive nature of the EV market [15]. Future Outlook - Dan Ives believes that Tesla is entering 2026 on firm ground, despite the challenges in achieving delivery growth [7][9]. - The focus is shifting beyond just vehicle deliveries to include advancements in AI, energy, and autonomy, which may help offset weaknesses in the core EV business [4][5]. - Ives maintains a buy rating on Tesla stock with a price target of $600, the highest on Wall Street [10]. Analyst Sentiment and Valuation - Tesla stock is currently trading around $438, having experienced an 8% decline recently but still showing a 16% gain for the year [11]. - Analysts have varied price targets for Tesla, with Deutsche Bank at $500, BofA Securities at $471, Goldman Sachs at $420, Morgan Stanley at $425, and UBS at $247, reflecting differing views on the company's valuation and growth potential [17].

"如果到现在哪一个做智能辅助驾驶的公司，还没有完成数据驱动开发范式的改造，那它被斩下去是迟 早的事情。"2025年12月31日，卓驭科技CEO沈劭劼在接受中国证券报记者专访时表示，唯有完成向"端 到端"数据驱动的转型，且能将技术与传统制造业落地衔接，才能抵御行业淘汰赛的冲击。 作为从大疆体系拆分独立仅一年多的智驾玩家，卓驭科技已凭借端到端技术突破，覆盖9大乘用车客户 15个品牌、50余款量产车型，从10万元级燃油车到百万元级高端车型全面渗透，还将触角延伸至重卡 NOA与无人物流车领域。在沈劭劼看来，当前智驾行业已进入"端到端扎堆"的竞速期，头部企业的技 术差距以"月"为单位波动，2026年的竞争激烈程度将远超往年。 数据驱动至关重要 "智能辅助驾驶的核心矛盾，早已不是'要不要做端到端'，而是'能不能转得彻底'。"沈劭劼的判断，源 于卓驭自身的"断臂式"转型。2024年10月，他带领团队删掉了三年积累的所有规则代码，彻底告别规则 驱动路线——彼时，行业内多数企业仍选择"规则兜底+数据优化"的渐进式转型，而卓驭因规则驱动在 城区领航开发中陷入"解决1个问题冒出10个新问题"的困境，最终下定决心"删库重练"。 "我 ...

Core Insights - The Schwab U.S. Broad Market ETF (SCHB) provides broader market coverage, while the Vanguard Value ETF (VTV) focuses on value stocks with higher income potential [1][2] Cost & Size Comparison - SCHB has an expense ratio of 0.03% and assets under management (AUM) of $38.0 billion, while VTV has a slightly higher expense ratio of 0.04% and AUM of $215.5 billion [3][10] - The one-year return for SCHB is 11.9%, compared to VTV's 10.2%, and SCHB has a dividend yield of 1.1% versus VTV's 2.0% [3][4] Performance & Risk Metrics - Over the past five years, SCHB experienced a maximum drawdown of 25.36%, while VTV's maximum drawdown was 17.04% [5] - An investment of $1,000 in SCHB would have grown to $1,779, while the same investment in VTV would have grown to $1,646 over five years [5] Holdings & Sector Exposure - VTV holds approximately 315 stocks, with significant allocations in financial services (25%), healthcare (15%), and industrials (13%), featuring top positions like JPMorgan Chase and Berkshire Hathaway [6] - SCHB, on the other hand, leans heavily into technology (34%), financial services (14%), and consumer cyclicals (11%), with major holdings including Nvidia, Apple, and Microsoft [7] Investment Strategy Implications - SCHB offers a comprehensive approach to market exposure, capturing around 2,400 companies across various market caps, making it suitable for investors seeking broad market representation [8][9] - VTV's strategy is more selective, focusing on large-cap value stocks, which may appeal to income-focused investors looking for higher dividends [11]

站长之家（ChinaZ.com）1月4日 消息:2026年雷军开启首场直播，直播中，小米汽车副总裁李肖爽着重 介绍了小米YU7在门把手安全方面的独特设计。 李肖爽详细说明，小米YU7的门把手在安全设计上考虑极为周全，内外均配备了机械拉线。更为关键的 是，即便在极端碰撞情况下，车辆的大电池和小电池都失去电力供应，门锁还专门配置了专用电源，确 保在各种紧急状况下车门都能顺利打开，为驾乘人员提供可靠的安全保障。他自信地表示，小米YU7门 把手设计在安全冗余方面处于行业领先水平。 雷军解释道，很多消费者对此存在误解，看到车辆轮子撞掉就产生质疑。实际上，这是一种重要的安全 策略，当车辆遭遇严重碰撞，轮子在受到挤压后会飞出，这一设计能够有效分散碰撞能量，最大程度保 护车内人员的生命安全。 雷军还在直播中呼吁广大网友，如果此后在网络上看到有人拿小米YU7"车轮撞掉"这一点进行抹黑，希 望大家能够帮忙解释，向大众普及"丢轮保车"这一安全设计理念。此次直播，让消费者对小米YU7的安 全性能有了更深入的了解，也展现出小米在汽车安全设计上的用心与创新。 在李肖爽介绍完门把手设计后，雷军也参与到话题中，谈及小米YU7的安全性时，特别 ...

Job Market and Economic Outlook - The U.S. job market is expected to start 2026 sluggishly due to trade uncertainty, stricter immigration policies, and cautious corporate investment in AI, but a rebound is predicted later in the year by JP Morgan Chase & Co. [1] - U.S. policy changes and a tightening global memory chip market are putting South Korea's largest semiconductor makers under renewed scrutiny [1] Semiconductor Industry - China's push to localize its semiconductor supply chain is reshaping the global chip equipment market, adding pressure on foreign suppliers while increasing demand for domestic tools [3] - Taiwan Semiconductor Manufacturing Co. is under scrutiny following a powerful earthquake near Taiwan, raising concerns about potential production disruptions [7] - Taiwan Semiconductor plans to raise prices for its advanced chips despite heightened geopolitical tensions [7] - Taiwan Semiconductor secured a one-year U.S. export license to import U.S. chipmaking equipment into its China operations [8] Corporate Developments - Intel Corporation completed the issuance and sale of over 214 million shares of common stock to Nvidia in a $5 billion private placement [4] - Nvidia is reportedly in advanced discussions for another M&A deal aimed at acquiring talent due to pressure from Google's internal chip development [4] - TikTok parent ByteDance plans to allocate about 100 billion yuan ($14 billion) to Nvidia chips in 2026 [5] - Meta Platforms Inc. is accelerating its push to build practical, revenue-generating AI tools [6] - SoftBank Group agreed to acquire DigitalBridge Group in a cash deal valued at about $4 billion, marking a significant step in scaling global infrastructure for AI [17] Automotive Sector - XPeng reported strong December performance, delivering 37,508 vehicles in December 2025, a 2% year-over-year increase [12] - Nio reported a record 48,135 vehicle deliveries in December 2025, an increase of 54.6% year-over-year [13] - Tesla could struggle to follow up on a record third quarter, with predictions of weaker fourth-quarter deliveries [14] Artificial Intelligence Developments - South Korean telecom operator SK Telecom launched A.X K1, the country's first hyperscale AI model with 519 billion parameters [18] - OpenAI is shifting its first AI hardware project to Foxconn Technology Group as it accelerates plans for a consumer device [18] - Meta Platforms accelerated its AI push with the acquisition of Manus AI, a startup focused on autonomous agents [19] - VivoPower announced plans to acquire a hydro-powered data center site in Norway as part of its AI-focused digital strategy [20]

Core Viewpoint - Rivian Automotive reported a significant decline in vehicle deliveries for Q4 2025, with 9,745 vehicles delivered, representing a 31% year-over-year decrease from 14,183 deliveries in the same quarter last year, which is worse than Tesla's 16% decline for the same period [1][2]. Group 1: Delivery Performance - The decline in deliveries was anticipated by management and aligned with the company's expectations [2]. - Rivian's Q4 performance should be contextualized with Q3, where deliveries increased by 32% year-over-year, driven by a rush of orders before the expiration of the federal clean-vehicle credit on September 30, 2025 [4]. - Rivian's production increased sequentially, with 10,720 vehicles produced in Q3 and 10,974 in Q4, indicating efforts to normalize inventory after delivering 23% more vehicles than produced in Q3 [5]. Group 2: Future Prospects - The focus for Rivian investors is on the upcoming launch of the R2 vehicle, expected to begin deliveries in the first half of 2026, which is anticipated to open up a larger market due to its lower price point of $45,000 [6][8]. - CEO RJ Scaringe expressed confidence in the R2, noting that it aligns well with the average price of new vehicles sold in the U.S., which is around $50,000 [7]. Group 3: Financial Health - Rivian reported an adjusted EBITDA loss of $602 million for Q3, with a full-year 2025 guidance indicating an adjusted EBITDA loss between $2.00 billion and $2.25 billion [10]. - The company ended Q3 with $7.09 billion in cash and equivalents, but with a negative free cash flow of $1.3 billion for the first nine months of 2025, it will continue to deplete cash reserves until achieving positive cash flow [11]. - Despite the potential of the R2 launch, Rivian's current valuation of approximately $24 billion may be overvalued given its unprofitable business model and significant adjusted EBITDA losses [12][13].

Tesla, Inc. (TSLA) stock has been flat over the last 2 months. But investors are making money by selling short out-of-the-money (OTM) put options. For example, over the next month, Tesla put options with exercise prices 6.4% lower than today's price provide a 3.2% income yield. TSLA closed at $438.07 on Friday, Jan. 2, 2026. That is about where it was on Nov. 6, 2025, when it closed at $445.91. However, some investors have made money by selling short out-of-the-money (OTM) put options (and OTM calls). Mo ...

2026年 1月4日，据"云见Insight"报道，小鹏汽车产品中心副总裁陈永海于 2025年12月离职，其职务暂由总裁王凤英接替。 公开信息显示，陈永海2010年加入UC并担任产品主管，负责UC桌面等多款产品的规划与设计。2014年，UC被阿里巴巴收购并与高德地图重组后，陈永海 曾短暂加入360，后受UC CEO俞永福邀请加入高德地图，全面负责高德地图的产品工作。2022年1月，陈永海加入小鹏汽车。同年，小鹏汽车重新调整产品 布局，陈永海转任负责产品中心。 陈永海接管产品中心后，增设产品线、专业产品、OTA产品、智能硬件产品、商业分析等部门。在陈永海的带领下，小鹏汽车产品中心团队规模从几十人扩 张至三四百人，逐步发展为职能全面的大产品部。 公开信息显示，接任者王凤英于1991年加入长城汽车，2003年起担任长城汽车总裁。2022年7月，王凤英卸任长城汽车总经理职务，继续参与战略管理工 作。2023年1月30日，王凤英担任小鹏汽车总裁，负责产品规划及销售业务。 数据显示，2025年，小鹏汽车累计交付新车429445台，同比增长126%；海外市场交付量为45008台，同比增长96%，目前业务已覆盖全球60个国家 ...

In a week marked by EV makers’ delivery figures, Tesla Inc. has been dethroned as the world’s top EV maker by China’s BYD Co. Ltd. after a second year of declining sales. Meanwhile, BYD reported a dip in December sales but a significant surge in overseas deliveries.In other news, Stellantis-backed Leapmotor secured hefty funding, Alphabet’s Waymo was spotted testing in London, and Nio capped off 2025 with record deliveries.Here’s a closer look at these stories.Tesla Loses EV Crown To BYDTesla reported a 9% ...

Core Viewpoint - The article discusses the author's background and experience in the investment management industry, emphasizing a focus on long/short equities and the importance of due diligence for investors [1]. Group 1: Author's Background - The author has been writing for Seeking Alpha since 2011 and has a strong interest in markets dating back to elementary school [1]. - The author holds a Bachelor of Science Degree from Lehigh University, majoring in Finance and Accounting, with a minor in History [1]. - The author served as the Head Portfolio Manager of the Investment Management Group at Lehigh University, managing three portfolios [1]. Group 2: Investment Approach - The author has experience in both long/short equities and managing university endowments, indicating a practical understanding of investment strategies [1]. - The article highlights the importance of conducting proper due diligence before making any investment decisions [3].