Tesla Inc. (NASDAQ:TSLA) shares soared to a 52-week high of $363.07, with the company now commanding a market capitalization of $1.15 trillion. According to InvestingPro analysis, the stock currently trades above its Fair Value, suggesting an optimistic market sentiment. This latest peak reflects a significant turnaround from previous market positions, with the stock witnessing an impressive 49.53% increase over the past year. The company generated $97.15 billion in revenue over the last twelve months, though maintaining a modest gross profit margin of 18.23%. Investors and market analysts attribute this surge to a combination of factors, including strong quarterly earnings, sustained demand for electric vehicles, and the company's aggressive expansion strategies. InvestingPro subscribers have access to 20+ additional exclusive insights about Tesla's financial health and growth prospects. Tesla's ability to maintain its momentum in the face of supply chain challenges and increased competition has further cemented investor confidence, propelling the stock to new heights within the last year. The stock currently trades at a P/E ratio of 88.56, reflecting high growth expectations. For comprehensive analysis and detailed metrics, access Tesla's Pro Research Report, available exclusively on InvestingPro.
In other recent news, Tesla's stock has been maintained at a 'Sell' rating by Guggenheim, despite an increase in the price target from $156 to $175. BofA Securities also updated its outlook on Tesla, maintaining a 'Buy' rating and increasing the price target from $350 to $400, citing Tesla's ongoing development of its Optimus robot. Meanwhile, Bernstein maintained its 'Underperform' rating on Tesla, expressing concerns over the company's strategic focus on developing a dedicated 'Cybercab'.
On a different note, Elon Musk's xAI is set to expand its Colossus supercomputer facility, increasing its capacity to over one million Graphics Processing Units (GPUs). This move is expected to transform Memphis into a leading technology hub and a central hub for artificial intelligence globally.
In regulatory news, Neuralink, the brain technology firm led by Musk, has been cited by the Food and Drug Administration (FDA) for "objectionable conditions or practices" at its animal testing laboratory. The FDA has urged Neuralink to voluntarily correct the issues found, emphasizing that these did not compromise the safety of Neuralink's devices. These are among the recent developments in these companies.
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