Core Viewpoint - Morgan Stanley maintains a bullish outlook on Tesla, reiterating an "Overweight" rating and a target price of $410, despite recent volatility due to public disputes involving CEO Elon Musk and former President Donald Trump [1][5]. Group 1: Market Performance - Tesla's stock experienced a significant decline of nearly 15% last week, with a record single-day loss exceeding 14% on Thursday, impacting major indices like the S&P 500 and Nasdaq [2]. - As of 2025, Tesla's stock has dropped over 25% year-to-date [2]. Group 2: Long-term Outlook - Morgan Stanley emphasizes that the recent political tensions and the potential removal of electric vehicle tax credits will not significantly affect Tesla's long-term fundamentals [5]. - The firm believes that Tesla's leadership in AI, autonomous driving, and robotics positions it favorably for future growth, despite short-term market fluctuations [6][8]. Group 3: Key Growth Drivers - The core growth drivers identified by Morgan Stanley include Full Self-Driving (FSD) technology, the Robotaxi network, and the Optimus AI humanoid robot, with the potential for the robotics market to surpass the global automotive market [8][11]. - The analysis suggests that the integration of advanced AI models and Tesla's Dojo supercomputer will enhance the capabilities of its products, further solidifying its market position [10][11]. Group 4: Financial Projections - Morgan Stanley's bull case estimates a total valuation of $800 per share for Tesla, driven by various segments including automotive, energy, and mobility services [9]. - The base case valuation stands at $410, while the bear case estimates a value of $200, reflecting the potential volatility in Tesla's stock price based on market conditions [9].

最早感受到这一冲击的，是美国军工巨头洛克希德·马丁。其生产的F-35战斗机，因高性能钕铁硼磁体的供应中断而屡次停工。每一次的停工都意味着数千 万美元的损失，且直接影响了国防计划的推进。 与此同时，特斯拉在电动汽车领域也开始面临稀土供应链的问题。其电动机所需的稀土永磁材料库存告急，严重威胁到旗下Model系列车型的生产进度。 6月5日，我国商务部再次就稀土出口问题作出了回应，表明只要申请符合规定，中方将批准出口，并且这一政策并不针对特定国家。这一表态是在稀土出口 政策逐步收紧的背景下发布的。 实际上，当中国开始逐步加强稀土出口管控时，西方国家并没有意识到问题的严重性。许多人将这一措施视作市场调整的一部分，而忽视了其背后的深层影 响。然而，随着管控措施的逐渐深化，从设定出口配额到实施全面数据追踪系统，全球高科技产业链开始紧张起来。这种日益严格的管理和对透明度的高要 求，远远超出了以往常见的贸易摩擦模式。 德国汽车工业协会代表宝马、奔驰、大众等汽车厂商发出了警告：如果中国稀土供应中断持续超过三个月，依赖稀土永磁电机和催化转化器的欧洲汽车工业 将可能面临大规模瘫痪。此时，众多汽车厂商的高管开始紧急向特朗普政府求助，表 ...