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Tesla (TSLA) Q1 2020 Results Has Gene Munster's Confidence, EV Maker Will Thrive After Pandemic

by Ma. Claribelle Deveza April 23, 2020

Tesla-Market-Worth

Gene Munster, from Loup Ventures, has confidence that Tesla (NASDAQ: TSLA) will emerge as one of the winners after the Q1 2020 Earnings Call is finished. Munster named Tesla a winner beside Apple. Funnily enough, Tesla has been compared to Apple time and time again, but TSLA skeptics often disregarded the two companies’ similarities. Now, it seems the time has come where Tesla’s similarities with Apple are undeniable. 

Managing Partner and Co-Founder of Loup Ventures, Gene Munster, appeared on CNBC’s Trading Nation recently and named Tesla a possible winner after first-quarter earnings calls were all out. He explained that shareholders would leave the earnings call with a better understanding of the market share Tesla gained during the first quarter. To illustrate his point, Munster shared that in March, Tesla grew its deliveries by 40% while the overall auto industry was down by 30% in the United States. 

Munster said that TSLA’s Q1 2020 Earnings Call would give shareholders a better idea of the demand gap between Tesla’s EVs and legacy automaker’s traditional vehicles. Needless to say, Munster may have predicted that the demand gap between Tesla and traditional OEMs might be significant.

The auto industry was hit hard by the pandemic, but Tesla seems to have survived through the first few months relatively unscathed. TSLA investors and supporters believe the EV automaker is prepared to weather the worst of the global crisis. 

“Tesla is a lot smaller, more nimble company. And they’re better positioned to absorb that kind of shock, especially since Tesla has a good capital cushion from its recent capital raise,” said Driving Delta in his recent video explains why TSLA could be worth more after the shutdown. 

Some analysts have argued that reduced oil prices could hurt the EV market and Tesla in extension. However, Gali Russell of HyperChange explained that oil prices might not be the main factor people buy electric vehicles. According to Russell, EV sales might dip slightly due to reduced oil prices, but will probably not hurt the overall market in the long run. 

The HyperChange host explained that the technological stagnation of combustion engines could ultimately hurt ICE sales. In contrast, EV technology, specifically batteries, drivetrains, etc. continue to improve. So it seems legacy automakers and ICE vehicles will need to learn how to improve and adapt to the changing times to survive. 

Featured Image Credit: crcavazos/Instagram




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