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Tesla Stock Dips. Apple Isn't Lifting Everything

Dow Jones05-03

Tesla stock ended Thursday at $180.01, up 2 cents, and didn't get much of a boost from a new bullish call from Cantor Fitzgerald.

Analyst Andres Sheppard launched coverage with a Buy rating and a price target of $230.

Buy ratings typically help any stock, but coming into Thursday's session Tesla shares already were up about 27% from a 52-week closing low of $142.05 reached on April 22, a day before Tesla reported better-than-feared first-quarter earnings.

In premarket trading Friday, Tesla shares were down 0.2% to $179.61, while S&P 500 and Nasdaq Composite futures jumped 0.3% and 0.6%, respectively.

Apple was helping the indexes. The tech giant's shares were rallying 5.7% in premarket trading after the company said it expects sales in its fiscal third quarter to come in at about $83 billion, in line with Wall Street estimates but above what investors feared, wrote Melius Research analyst Ben Reitzes in a report Thursday.

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  • Guavaxf30
    ·05-03
    Perhaps people are no longer just following what others are saying but what they know themselves?  If you take a pause and think about it, there has been loads of real actual bad news, tinged with some hints of future promises by Musk. At some point, we have to ask ourselves what is true and what is not.
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  • Dr Rck
    ·05-03
    Like it, buy it, otherwise 'don't invest in TSLA...' if you don't believe it can deliver autonomy - according to EM, but may take another 3 to 5 yrs for more testing and adoption?
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