24/7 Wall St. Insights
- Tesla Inc. (NASDAQ: TSLA) stock retreated after the unveiling of its new robotaxi.
- Yet, Nvidia’s CEO remains a fan of the company.
- Also: Dividend legends to hold forever.
Several investors turned their backs on Tesla Inc. (NASDAQ: TSLA) when they were concerned its new robocab and Robovan did not look like keys to a stronger future for the electric vehicle (EV) company. Neither offered a look at a new model. Tesla has not launched one in years. And it did not prove that it is the self-driving car leader. That would have put it on the cutting edge of the next crucial advance in human transportation.
The event Elon Musk hosted to showcase Tesla’s two future products was lackluster enough to take Tesla’s shares down 8% the following day. However, one of the most important figures in the technology world thinks Tesla is the leader in the field and will power the next generation of mass-market vehicles.
Recently, Nvidia Corp. (NASDAQ: NVDA) CEO Jensen Huang said Tesla was the industry’s leader in providing self-driving cars that will evolve into those with autonomous driving capacity. He told Yahoo Finance that Tesla was “far ahead” of its rivals.
Many think of Huang as the leader of the AI industry. Nvidia chips are at the core of AI computing. It is estimated to have at least three-quarters of the AI chip market. Nvidia shares have been up 1,812% in the past two years. And its market cap is $3.3 trillion, which puts it second only to Apple’s $3.4 trillion.
Tesla investors get to make a decision. Do they listen to those who think its stock is overvalued or to the CEO of the world’s most important AI company?
Nvidia Price Prediction and Forecast
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