Hyperdrive
Musk Needs Apple’s Margins, VW Sales to Justify Tesla Value
- Morgan Stanley analyst’s phone buzzing amid extraordinary rise
- NYU valuation guru says Tesla bulls buying into a ‘fairy tale’
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Tesla Inc. has always had one foot in the automotive world and the other in technology. But when it comes to the company’s valuation, neither truly fits.
The stock’s stunning ascent -- doubling in just the first 23 sessions of the year on record vehicle deliveries, the opening of a China plant and an earlier-than-expected profit at a jointly operated battery factory -- has cooled off as exuberance gives way to caution. But the still-meteoric advance of the last five weeks has prompted more comparisons with high-growth technology names, and even has tech-focused market watchers looking more closely at the stock’s fundamentals.