Hyperdrive
Tesla Earnings Unlikely to Ease Concerns Over Waning Growth
- Outlook for 2024 deliveries, EV demand under the spotlight
- Stock is the only decliner among the ‘Magnificent 7’ this year
A Tesla Model Y in Austin, Texas.
Photographer: Brandon Bell/Getty ImagesThis article is for subscribers only.
As both the worst-performing and most expensive stock among the Magnificent Seven tech megacaps, Tesla Inc. faces mounting pressure as it reports fourth-quarter earnings Wednesday.
For investors, the issue is the breakneck growth they’ve come to expect of Tesla. Concerns about fading demand for electric vehicles have sent its shares down 16% this month through Tuesday’s close. That paints a troubling picture of market sentiment, with Tesla tumbling while other tech counterparts soar to record highs. Price cuts and rising costs have added to the gloom.