Dan Ives, Managing Director and a renowned technology analyst at Wedbush Securities, is a staunch bull on Tesla. The analyst wrote on X on Monday that Tesla's efforts to develop and advance its artificial intelligence are promising long-term growth prospects. In an optimistic scenario, the market value of (AI) projects is expected to reach $3 trillion by the end of 2026 .
Ives stated that with the development of autonomous driving and robotics... As its business gradually moves towards commercialization, Tesla is entering a critical period of development .
He predicts that by 2026, Tesla... Its market capitalization will reach $2 trillion, about 33% higher than the current level, and in an optimistic scenario, its market capitalization could even reach $3 trillion by the end of 2026.
Ives emphasized that 2026 could be Tesla 's "breakthrough year" .
"As we enter 2026, with the launch of the autonomous driving and robotics business, Tesla and Musk will usher in a year of explosive growth. We believe that as the AI chapter fully unfolds in Tesla, the company's market value will reach $2 trillion in 2026, and in an optimistic scenario, the market value could reach $3 trillion by the end of 2026."
At the same time, Ives reiterated its "outperform" rating on Tesla stock and maintained its price target of $600 for the stock.
On Monday, Tesla bucked the trend, rising over 3% to $475.31, bringing its market capitalization close to $1.5 trillion. Tesla recently conducted self-driving tests in Austin, Texas. Car testing fueled market optimism.
Last weekend, at least two Tesla Model Y vehicles were spotted driving on public roads without a safety supervisor or any other occupants.
Tesla CEO Elon Musk confirmed on the X late Sunday night that the company is currently testing driverless taxis without human safety drivers.
According to Forbes data, thanks to the significant increase in SpaceX's valuation, Musk's wealth increased by $168 billion, reaching $677 billion as of noon Eastern Time on Monday. He thus becomes the first person in history to reach or exceed $600 billion in net worth, taking a huge step closer to becoming the world's first trillionaire.
Musk currently owns about 12% of Tesla's shares, worth approximately $197 billion. If Tesla's market capitalization reaches $3 trillion as predicted by Ives (double its current level), Musk's net worth could increase by nearly $200 billion.
(Article source: CLS)
