All eyes on Tesla stock ahead of second quarter delivery report – what Daniel Ives expects


It's that time of year again. This week we'll find out how many cars Tesla (NASDAQ:TSLA) sold in Q2. A major factor behind the recent negative sentiment towards EVs has been weak demand, which will be a key aspect of the upcoming report.

However, Wedbush analyst Daniel Ives believes the second quarter picture might not be as bleak. From here, things should definitely get better.

“We believe China’s share of growth for Tesla is slowly turning around and a ‘mini rebound’ was seen in Q2, which should help Tesla get closer to the Street’s 435k unit estimate,” Ives said. “Whisper numbers are lower in the 415k to 420k range as the Street’s main focus is on 2H unit recovery, price stabilization, China growth, and the historic Aug 8 Robotaxi Day hosted by Musk.”

According to Ives, it's that last piece of information that really matters. EV sales may be slow these days, but with the potential for price cuts, Ives thinks they will bounce back in the second half of the year, yet the real catalyst for Tesla lies elsewhere. More specifically, in robotaxi efforts, the August event is going to be “an important watershed moment for Tesla's story.”

Reaching a $1 trillion+ valuation for Tesla depends entirely on the autonomous and FSD vision taking shape. Based on the latest FSD v12.4 and the fact that China is undergoing FSD testing, Ives believes Tesla is truly turning a corner.

The analyst concluded, “As part of Tesla's long-held full self-drive thesis and the company's first mention of robotaxis in 2019, it is now official that robotaxis will become part of the Tesla portfolio as Musk and Tesla prepare for the first Tesla robotaxi to be unveiled on August 8.”

Expressing his confidence, Ives has given Tesla shares an Outperform (i.e., Buy) rating, backed by a $275 price target. If this figure is met, investors would be looking at a return of ~31% a year from now. (To view Ives' track record, click here)

Ives is one of the Street's most prominent TSLA bulls, but not everyone is thinking along the same lines. The ratings are split into 14 Holds, 12 Buys and 8 Sells, resulting in an all Hold consensus rating. Furthermore, the $182.1 average target factors in a one-year decline of 14.5% for the stock. (See Tesla Stock Forecast,

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Disclaimer: The opinions expressed in this article are solely the opinions of the featured analyst. The content is to be used for informational purposes only. It is very important to do your own analysis before making any investments.

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