Tesla Inc. is in the spotlight after a busy July that included record delivery figures, a closely watched earnings report, and a sharp post-earnings selloff.
Key Points to Consider
- Tesla stock is showing downward pressure, leaving many to wonder where it’s headed.
Tesla Q2 Delivers 25% YoY Surge
Tesla pre-released its second-quarter production and delivery figures, reporting:
- 451,758 vehicles produced
- 480,126 delivered — up 25% year-over-year
- Model 3/Y deliveries totaled 467,762, with other models contributing an additional 12,364
- The company deployed 13.5 GWh of energy storage products during the quarter
Tesla Tops $100B TTM Revenue, Stock Sinks
Tesla reported second-quarter results, with:
- Adjusted earnings per share coming in at 33 cents, missing the 51-cent consensus estimate
- Revenue of $28.24 billion, topping the $25.71 billion analysts had projected
- The automotive segment alone generated $20.52 billion in revenue, up 23% year-over-year
- Tesla surpassed $100 billion in trailing-twelve-month revenue for the first time in company history
- Active FSD subscriptions reached 1.48 million, up 56% year-over-year
The company’s shares fell sharply following the report, extending to a 14.5% single-day decline, erasing roughly $214.5 billion in market value. The selloff followed the worse-than-expected adjusted EPS result, along with company commentary on high capital expenditure growth, supply-chain bottlenecks, and difficulties scaling up Optimus robot production.
The AI and Robotics Pivot
Elon Musk called Optimus “the hardest product to scale manufacturing that we’ve ever made at Tesla,” noting the robot has no existing supply chain. Tesla also quietly dropped Optimus mass-production language from its shareholder presentation, a shift from prior quarters. The Cybercab, by contrast, is now listed as in production, an upgrade from prior guidance of volume production “this year.” CFO Vaibhav Taneja said operating expenses will keep growing in 2026 and beyond, tied to a more than $25 billion capex plan for new factories, AI infrastructure, and Tesla’s Terafab manufacturing platform.
Analyst Consensus & Recent Actions
The stock carries a Buy rating with an average price forecast of $413.49. Recent analyst moves include:
- UBS: Neutral (Lowers Target to $385.00) (July 23)
- JP Morgan: Neutral (Lowers Target to $445.00) (July 23)
- Morgan Stanley: Equal-Weight (Lowers Target to $400.00) (July 23)
Tesla Shares Edge Higher
At the time of publication, Tesla shares are trading 0.43% higher at $321.05.