The stock market continues to swing due to macroeconomic issues, which is only a temporary phenomenon. Elon Musk believes that in the long run, Tesla will become the most valuable company on Earth, as shown in his Wednesday email to employees.
Although many investors continue to worry about the decline in the value of Tesla's shares, this does not change the fact that, in general, the manufacturer is in a much better position than many other companies on the market. Tesla continues to ramp up production at its new factories, and a slowdown in production at Giga Shanghai due to the holidays, production line maintenance, and COVID-19 will not have a long-term negative impact. Among automakers, Tesla is well positioned to weather the storm caused by macroeconomic problems.
On Wednesday, Elon Musk addressed employees in an email reviewed by Reuters to point out the really important points. He asked everyone to do their best to deliver as many cars as possible during the last days of the quarter. Musk stressed that this will make a real difference. “Please go all out for the next few days and volunteer to help deliver if at all possible. It will make a real difference!” he said in the email.
In addition, Musk wrote that employees should not worry too much about the stock market situation, since Tesla is showing excellent results. “Btw, don't be too bothered by stock market craziness. As we demonstrate continued excellent performance, the market will recognize that,” he said.
Musk added that he strongly believes that in the long run, Tesla will become the most valuable company in the world, echoing his earlier statement from October. “Long-term, I believe very much that Tesla will be the most valuable company on Earth!”
During the Q3 2022 earnings call, Musk said:
“Several years ago, I said on an earnings call that I thought it was possible for Tesla to be worth more than Apple, which at the time I think was worth about $700 billion. Now, I'm of the opinion that we can far exceed Apple's current market cap. In fact, I see a potential path for Tesla to be worth more than Apple and Saudi Aramco combined. That doesn't mean it will happen or that it will be easy – in fact, it will require a lot of work, some very creative new products – but for the first time, I see a way for Tesla to be roughly the value of Saudi Aramco. This is the first time I've seen that potential.”
© 2022, Eva Fox | Tesmanian. All rights reserved.
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About the Author
Eva Fox joined Tesmanian in 2019 to cover breaking news as an automotive journalist. The main topics that she covers are clean energy and electric vehicles. As a journalist, Eva is specialized in Tesla and topics related to the work and development of the company.