Published , by Ozzie Mejia
Published , by Ozzie Mejia
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.