Very good REIT Analyst

The rationale for downgrading is not historical earnings but bawd on their expectation that NIM will decline. 

Trump and Musk versus US consumers

Note how he said he will buy the car and not the stock ..see u at 200 today.

The fact that Tesla in January guided for stronger sales in 2026 could be seen as highly deceptive . The company should have known that tariffs and Trinp's policies against China nd Europe and Musk's involvement in Doge would have an impact on sales.

ROIC is historical and means little unless they have a strategy to maintain that . With so much funds allocated to buy backs at elevated levels , i think the argument for superior ROIC is spurious . Fact is that consumers have greater choice now , including Deepseek and Apple is unlikely to be able to monetise Apple Iintelligence for a subscription fee. Conclusion: Apple is overvalued and Buffett is right 

Before all the so called Robotics takes place .. folks will dump Tesla cars . As it stands , the Tesla value of Tesla cars is plummeting.  If we look at yearly growth , Tesla sales actually declined in 2024z Mush has guided for growrh in 2025, but frankly that looks like a stretch coz Chin Se buyers are likely to give it a miss given the political tension between The Musk led US administration and China. Next China is already leading in robotics and the notion that Musk's a robots will replace US workers is a piped dream.. it would be essentially ceding control over to Musk. Corporate America will certainly hedge their bets . meanwhile Tesla is likely to hit $300 by  1H25. almost half of Wedbush's $ 550 target.

Pure protectionism. China should do the same and ban US cars including Tesla on security concerns.

They should have highlighted the steep over valuation earlier and also question the logic of 20-30% sales growth that musk touted for 2025.

Grossly overvalued .. he never provided details on his valuation or his terminal growth assumption which is key in DCF analysis. Also it's a mistake to use FCF margin as a guide As capex level varies . 

US analysts just invented a new valuation matrix. price / Trump. That's how absurd the U.S. mkt is.. The analysts are openly saying that earnings and cash flow don't matter.