Musk said Tesla could beat analysts’ forecast for 119% revenue growth over the next five years.
- Nevada approved Tesla to operate up to 5,000 paid robotaxis in Clark County, replacing its previous 10-vehicle limit.
- Tesla must complete inspections, insurance and fare filings before launching, potentially within about 30 days.
- Tesla called 5,000 a “ceiling” and said reaching around 2,500 Nevada robotaxis within a year would be a strong result.
Shares of Tesla, Inc. (TSLA) are headed for a third consecutive weekly gain as CEO Elon Musk predicted that the EV maker would outperform Wall Street’s five-year revenue forecast, while Nevada cleared Tesla to operate up to 5,000 robotaxis.
TSLA stock declined 2% on Thursday, but shares are still up 1% for the week.
Musk Sees Tesla Beating Growth Forecasts
Musk responded on X to a post showing analysts expect Tesla’s revenue to rise 119% over the next five years, while SpaceX revenue is projected to surge 2,090%. “I know this sounds crazy right now, but I think both SpaceX and Tesla will exceed these estimates,” Musk said.
Meanwhile, the Nevada Transportation Authority unanimously approved permits Thursday allowing Tesla, Uber and Waymo to operate paid robotaxi services in Clark County, home to Las Vegas. Tesla received permission to deploy up to 5,000 vehicles over the next year, compared with 1,000 each for Waymo and Uber. The approval replaces Tesla’s interim 10-vehicle limit.
Tesla must still complete inspections, insurance filings and fare disclosures before launching. Tesla investor and influencer Sawyer Merritt said on X that the administrative steps could be finished within about 30 days.
“The 5,000 has always been a ceiling for us,” Cybercab Chief Engineer Eric Early told regulators. He said Tesla would be “extremely happy and satisfied” to reach about 2,500 vehicles, or slightly more, within a year.
Tesla Prioritizes Cybercab Over Model Y
Tesla told JPMorgan it is intentionally holding back Model Y additions to its robotaxi fleet because it expects to scale Cybercab in the near term. The two-seat vehicle has no steering wheel or pedals and entered production at Gigafactory Texas in February. Musk previously called the initial ramp “agonizingly slow” because of its new components and manufacturing processes, EV noted. Tesla has also started employee rides in production Cybercabs and public-road engineering tests.
Tesla called Full Self-Driving V15 to JPMorgan as a “step-change in performance,” with about 40% of its seven core technologies already undergoing robotaxi testing. Early feedback has been “encouraging,” according to the brokerage. Tesla called V15 the “primary gateway to scaling unsupervised FSD.”
Active FSD subscriptions reached about 1.28 million in the first quarter, up 51% year over year, while Tesla’s fleet crossed 10 billion cumulative FSD miles in May. Tesla also told JPMorgan that Cybercab is only the “initial form factor,” pointing to the 20-passenger Robovan as an example of future autonomous vehicles.
JPMorgan maintained a ‘Neutral’ rating and $445 price target, implying nearly 29% upside from current levels. The firm expects Tesla’s revenue to rise from about $95 billion in 2025 to $203 billion by 2030, with autonomy and services driving nearly half the growth.
How Do Retail Traders Feel About TSLA?
On Stocktwits, retail sentiment for TSLA slipped to ‘neutral’ from ‘bullish’ levels a day ago amid an 8% rise in 24-hour message volumes.
One user said, “$TSLA so a Chinese company is already taking pre orders for their robots that do everything Elon said Optimus would be doing. Elon has done some amazing things but he’s totally dropped the ball on Optimus Robotaxi/ FSD level three.”
View this Stocktwits post
So far this year, Tesla’s stock has lagged its “Magnificent Seven” peers, making it the group’s worst performer, down about 23%.
Another user said, “$TSLA ignore the noise… tsla setting up for a big rally once cybercab is released and starts rolling!!”
View this Stocktwits post
For updates and corrections, email newsroom[at]stocktwits[dot]com.<