Tesla Earnings to Show EV Maker Falling Further Behind Big Tech
- Profit is estimated to drop 10%, the only decline in the Mag 7
- Traders focus on margins, new car update after robotaxi flop
Tesla has been at the forefront of a slowdown in EV demand since late 2023.
Photographer: David Paul Morris/BloombergWith shares falling and profits shrinking, Tesla Inc. is increasingly looking like the odd one out among its mega-cap technology peers. Investors worry that quarterly results will make the electric-vehicle maker even more of an outlier.
The Elon Musk-led company is the only member of the so-called Magnificent Seven which is expected to see profits decline in its latest quarterly results — and the only one that has seen Wall Street estimates come down from a year ago. The shares have fallen 12% this year through Tuesday’s close, while all of its Big Tech peers have advanced. Despite that, it’s still the most expensive stock in the group when plotted next to profits, giving it a tough setup for earnings.