I have added to my Tesla position despite GLJ Research maintaining a “Sell” rating, citing the automotive segment as “fledgling.” While Tesla’s core automotive business faces challenges—including a 1.1% global delivery decline in 2024 and projected steeper drops through 2026 due to EV tax credit expirations, Chinese competition, and brand pressures in Europe—the Energy Generation & Storage segment shows solid promise, with 12.1% projected growth and 31.2% margins. This diversification in revenue streams, combined with a favorable long-term view on energy solutions, underpins my decision to increase exposure at current levels.
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