Tesla shares rose 33% to close their best week since May 2013, boosted by positive economic data and an earnings beat.
Tesla's rally this week was aided by an upbeat fourth-quarter earnings report. During the call with shareholders and analysts,to potentially produce 2 million vehicles in 2023, and that he thought "demand would be there, too."
Official guidance called for production of 1.8 million vehicles this year. The company has not revised its longstanding target for 50% compound annual growth rate over a multi-year horizon.Tesla beat on both the top and the bottom lines, recording total revenue of $24.32 billion, including $324 million of deferred revenue related to Tesla's driver assistance systems. The
for its cars dramatically in December and January, leading to concern about demand and a buildup of inventory."For bulls, the growth story is alive and well," Bernstein's Toni Sacconaghi, who has an underperform rating on the stock, wrote in a note on Thursday. "For bears, the numbers don't lie."
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