Renowned Tesla (TSLA, Financial) advocate and Wedbush Securities analyst Dan Ives believes the electric vehicle giant is entering a golden era as Elon Musk refocuses on company management. Ives suggests that advancements in automation and robotics pave the way for Tesla to reach a $2 trillion market cap.
While Ives acknowledges a potential short-term dip in demand for Tesla's electric vehicles, he maintains this could mark the beginning of Tesla's prosperous period. He highlights that the market has yet to fully recognize Tesla's opportunities in autonomous driving and robotics.
Next month, Tesla plans to launch robotaxis in Austin, a move Ives describes as a "watershed moment" for the company. This aligns with Musk's earlier statement about potentially having one million robotaxis by the end of 2026. Ives notes that this initiative could position Tesla ahead of competitors like Waymo in the coming year.
Elon Musk's recent commitment to remain Tesla's CEO for at least five more years has also contributed to a surge in the company's stock price.
