BYD surpasses Tesla Inc
Tesla faced a decline in demand due to the increase in borrowing costs. Nevertheless, Tesla remains the top performer in terms of annual sales, delivering an impressive 1.8 million vehicles in 2023.
Although this falls slightly short of Tesla's target of 2 million deliveries, it is worth noting that their end-of-year performance surpassed expectations with a strong 20% growth compared to 2022.
Tesla's stock performance in 2023 stood out from a financial perspective. The shares experienced an impressive surge of 110% throughout the year, although there has been a slight decrease of 3% in 2024 so far.
Investors are eagerly anticipating Tesla's Q4 earnings, which are expected to be announced on January 24th. The estimated earning per share for this quarter is $0.74. This anticipation is heightened due to the disappointment of Tesla's Q3 earnings, which fell short at $0.66 per share compared to the estimated $0.73.
The upcoming earnings report is a crucial moment for Tesla as it has the potential to greatly impact investor confidence and the company's stock trajectory.
If Tesla's stock establishes a solid support level, it has the potential to drive significant market shifts. Furthermore, close attention should be paid to a potential breakthrough above the $300 mark, as this may signal a robust bullish trend for Tesla's stock.
After the closing bell on Tuesday, January 2, the stock closed at $248.42, trading down by 0.07%.
