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TSLA up 10%, $400 target: When will it hit a new ATH?
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💡Summary: Morgan Stanley analysts upgraded TSLA, seeing a $400 per share price tag on Tesla's Dojo supercomputer. TSLA record high pric Show More
💡Summary:
Morgan Stanley analysts upgraded TSLA, seeing a $400 per share price tag on Tesla's Dojo supercomputer.
TSLA record high price was near $409, now up 10%.
Tesla has talked about its self-driving system for years, but this July, CEO Elon Musk told investors that the carmaker plans to invest more than $1 billion in the project by the end of 2024. On Monday, Bloomberg reported Tesla's Dojo supercomputer may add as much as $500 billion to the company’s market value through faster adoption of robotaxis and network services, according to Morgan Stanley.

Dojo can open up "new addressable markets," just like AWS did for Amazon.com analysts wrote, upgrading the stock to overweight from equal-weight and raising its 12-month price target to a Street-high $400 per share from $250.

Shares of Tesla, which have already more than doubled this year, rose as much as 10% Monday. The stock was on track to add about $62 billion in market value. Morgan Stanley is one of Musk’s key advisory firms, including on the $44 billion takeover of Twitter Inc., now known as X.

🎙️Q:
1. Will AI replace everything?
2. Are you calling a Tesla robotaxi before 2030?

View disclosures here.
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