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Musk says Tesla (TSLA) could be valued more than $4 trillion in the future

Musk projects that the company could be worth more than Apple and Saudi Aramco combined.

Ozzie Mejia

October 19, 2022 3:14 PM

Tesla

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Tesla (TSLA) appears to be very confident following Wednesday's Q3 2022 earnings report. Mercurial founder Elon Musk jumped in on the ensuing earnings call expressing his confidence in his automobile maker, boasting that the company would soon be worth more than Apple and Saudi Aramco combined. Crunching some math numbers, that's an implication that Tesla will soon be worth more than $4 trillion USD at some indeterminate point in the future.

Musk's claim is based on his belief in Tesla as the most valuable company in the world, as he notes that the company can eventually exceed Apple and Saudi Aramco's combined market caps. Exactly when in the future is unknown, but Musk noted more than once during the call that he maintains a belief that Tesla can continue to grow at an annual rate of 50 percent or greater.

Tesla continues to work towards amping up its own automobile line, while also working to get a workable Cybertruck and Tesla Semi on the market. The latter is expected to be ready to hit the road at some point in 2024.

Tesla touted record earnings for the most recent quarter, despite missing on revenue projections, according to Wednesday's Q3 2022 earnings results. Despite that, Tesla notes that, with a strengthened dollar and after overcoming supply chain issues, the company will trend positively going forward.

We'll continue to break down Tesla's Q3 2022 earnings call. Keep it on Shacknews for any updates.

Ozzie Mejia

Senior Editor

Ozzie has been playing video games since picking up his first NES controller at age 5. He has been into games ever since, only briefly stepping away during his college years. But he was pulled back in after spending years in QA circles for both THQ and Activision, mostly spending time helping to push forward the Guitar Hero series at its peak. Ozzie has become a big fan of platformers, puzzle games, shooters, and RPGs, just to name a few genres, but he’s also a huge sucker for anything with a good, compelling narrative behind it. Because what are video games if you can't enjoy a good story with a fresh Cherry Coke?