During Tesla’s third-quarter earnings conference call, CEO Elon Musk reiterated that the company could one day “far exceed Apple’s current market capitalization.”
We are used to regularly discovering Elon Musk’s rather outlandish claims about the goals of his various companies, and today’s news is about Tesla. The American manufacturer held its conference call on the results of the third quarter of 2022, after the publication of its letter to shareholders.
During this call, CEO Elon Musk said he sees the company becoming bigger than Apple and Saudi Aramco combined. The American company could well achieve this feat if it continues to break records for electric car sales. In the third quarter of 2022, for example, Tesla delivered 343,830 electric vehicles. In 2023, total deliveries should exceed 2 million units worldwide.
Can Tesla really be worth more than Apple on the stock market?
In May 2017, when Tesla’s market capitalization was just $51 billion, Elon Musk had already assured reporters and shareholders that Tesla was moving quickly. reach the same level as the giant Apple, which at that time weighed 700 billion dollars. The target was set for 2025, but Elon Musk’s company finally reached it three years earlier, in 2022. Earlier this year, Tesla even surpassed the 1 trillion mark when the stock price peaked.
The problem is, Tesla did get to that $700 billion market capitulation, but Apple peaks at $2.3 trillion today. Elon Musk is therefore not content this time to say that Tesla will one day be worth more than 2000 billion dollars, but that his company will overtake Apple. ” Now I am of the opinion that we can far exceed Apple’s current market capitalization “, he continued.
Tesla therefore has a long way to go before it hopes to be able to catch up with such a delay on the technological giant. Some analysts had recently claimed that Tesla’s stock market value could rise sharply in the next few yearsand even reach 4 trillion dollars between 2025 and 2030.