Fundstrat head of research Tom Lee says he’s still bullish on Tesla (TSLA) despite the recent feud between billionaire Elon Musk and President Trump.
In a new video update, Lee shares a long-term chart for TSLA, which suggests that even after its 40% drop from all-time highs, the stock’s price is simply retouching a support level from previous years.
“Tesla investors are used to this. If you take a step back and look at Tesla from its 2010 to now, when it went from $1 to $280 today, that decline that we’re seeing recently really looks like it’s just coming back to support, so I don’t think the long-term picture really has changed all that much for Tesla.”
Lee goes on to list what he believes are several bullish fundamental developments for Tesla, adding that Fundstrat isn’t “too concerned’ about TSLA’s price dip.
“Let’s just review the competitive strength. Tesla has the lead in EV design, the lead in manufacturing electric vehicles, they have a robotaxi product coming soon – it’s going to start next week – and they have a competitive, vastly more competitive robotaxi design that costs roughly one-fourth that of the nearest competitor.
And Tesla is planning to introduce Optimus Robots…
And of course, there are drones potentially in the future. So when you look at the suite of products that Tesla has, it is pretty unmatched, and then there’s the possibility that they may merge xAI, which is their AI (artificial intelligence) unit that also owns the platform X.com, formerly known as Twitter.
And with all that, I would say that Tesla of course, still holds all of its advantages, and so we aren’t too concerned about the decline.”
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