$Tesla Motors(TSLA)$ isn't even worth looking at until under 100. The fundamentals just don't warrant more, they don't make that much money relative to their share price. Especially in this time when you can get risk free 5% buying bonds. It'll be interesting to see the effect of the recent price changes on their margin
Shelter is based on their moronic 'home owners equivalent ' rent, which is where they ask home owners to estimate what their home would rent for. Not only is it not very accurate, but it also lags reality as it takes time for the respondents to notice the changing markets. It lagged on the way up, reporting lower figures than it should have, and now it is lagging on the way down, reporting higher than it should. They should really use one of the industry metrics that reports a more up to date figure. That said, the inflation may not yet be over, and we still fear a repeat of the 1970s where the Fed eased off too early and the smoldering inflation burst into flame again. And the market can still be irrational: witness the frankly awful earnings season we've just had but the market kee
U.S. Consumer Prices Rose 6.4% in January, Higher Than Expected
Tesla had to drop prices. Otherwise they'd be left with unsold inventory and would have to curtail production, destroying their growth story . Better to at least still be growing in numbers. Trouble is, they've got themselves a price war, not a place you want to be if you're maintaining margins. If you get a worthy competitor or two. I wonder what a recession did for overall vehicle sales. Be interesting to compare with what happened in '08. My guess? Modest YoY growth at their upcoming sales call but not up to their prior standard. Elon will talk the good talk about market share to satisfy the fans, and their stock price will sputter along at around its current level. Major moves may wait until the sales call the following quarter, when we see the results of what's happening now.
$Apple(AAPL)$ they've been pulling a lot of revenue levers lately: increasing subscription costs, additional ads - things they might not have had to do before. iPhone Pro selling well, but that's the one the die-hards buy. The regular iPhone sales is sounding a bit scary. Long term they're still a fantastic company but they're the last bastion to yet to fall, and I think that's coming. Not all bad though, cheap apple might be a good opportunity to get in at a fair price!
Turns out the weekend's meltdown really was a meltdown - a cooling failure at the alicloud data center apparently. Glad to see the fun here will continue!