TSLA (433) Q3 was unique because it was the last quarter when buyers were able to get the $7,500 federal tax credit. So there was a big surge in orders that won't be repeated. Q4 should benefit a little bit from the Q3 orders since that's when the deliveries will occur. Q1 will be more challenging.
Why not look at the 9 month y/y results rather than just Q3, which was unique ?
Total revenue down 3%
Gross profit down 9%
Operating income down 47%
Net income down 41%
Operating cash flow up 8%
I think TSLA is a risky hold now at $433. I like the company very much, but I think the shares are overvalued. Bulls say it is an AI and robotics play deserving of a high PE. Perhaps that is true, but a PE of 190 based on FY26 estimates seems too high. After all, the AI leader is NVDA with a forward PE of just 29.
GM remains undervalued, imho, but has always had a low PE and does have substantial debt as you pointed out. I might sell part of my position soon and buy back lower.
F is more fully valued and I will probably soon sell my entire position, hoping to buy back lower.
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