Core Insights - Ferrari shares fell by 13% due to disappointing long-term guidance and concerns over profit slowdown [1] - The company raised its short-term guidance but lowered long-term EBITDA growth expectations from 10% to 6% annually through 2030 [2] - Ferrari scaled back its electric vehicle (EV) ambitions, now projecting that EVs will make up 20% of its lineup by 2030, down from a previous target of 40% [3] Company Performance - The company is set to launch its first all-electric model, generating 1000 horsepower and achieving 0 to 60 mph in 2.5 seconds [3] - Despite the lowered EV targets, Ferrari reported that most of its models are sold out, with waiting lists exceeding one year [4] - The current situation is not indicative of reduced demand among wealthy consumers, but rather reflects a conservative approach from the CEO [5] Industry Context - Other high-end sports car manufacturers, including Aston Martin, Lamborghini, and Bugatti, are also scaling back their EV plans [4] - Ferrari's stock is highly valued at 40 to 50 times earnings, making it sensitive to any signs of uncertainty [5]