Earnings season is heating up, with electric vehicle (EV) manufacturer Tesla (NASDAQ: TSLA) among those set to announce its performance for the second quarter.
The Trump trade is back on as a nod from the former president boosted Tesla (NASDAQ: TSLA ) stock. CEO Elon Musk has promised to donate $45 million per month to the former president's campaign, for a total of about $135 million.
UPDATE—July 22, 2024: This article has been updated to reflect more recent share price information.
Investors likely want to hear CEO Elon Musk say that Tesla can grow volumes, and talk about the robotaxi.
Tesla's second-quarter margin hit a more than five-year low, the electric vehicle maker is likely to report on Tuesday, and its CEO Elon Musk is expected to double down on the company's robotaxi plans and AI products.
Tesla NASDAQ: TSLA will report its second-quarter earnings after the bell on Tuesday amid a robust rally fueled by better-than-expected quarterly delivery numbers. In the second quarter, Tesla delivered 443,956 electric vehicles, surpassing the analysts' estimate of 439,302.
Tesla will have "genuinely useful" humanoid robots in low production for the company's internal use next year and possibly high production for other companies in 2026, CEO Elon Musk said in a post on social media platform X on Monday.
Cathie Wood's Ark Invest has been a seller of Tesla, Inc. TSLA shares in the past two sessions despite its bullish stance on the electric vehicle maker.
Electric vehicle stocks have been relatively volatile recently as concerns about demand coincide with their undervaluation hopes. Tesla stock bottomed at $139 in May and then soared to a high of $270, propelling Elon Musk's wealth to $270 billion.
About 14% of the S&P 500 companies have reported their June quarter earnings and the blended earnings growth rate for the companies constituting the broader index remains healthy. The coming week will see the official start of the tech reporting season, which could potentially decide the fate of the market, which has seen a steep pullback in the recent week.
Enphase could be turning the corner, but there remains a great deal of uncertainty. 2024 will likely be a trough year for design and test solutions company Keysight Technologies.
Second-quarter earnings season continues with Verizon, Alphabet, Coca-Cola, Comcast, General Motors, Tesla, Visa, AT&T, Chipotle, and Newmont.