Re:Tesla's biggest retail shareholder is voting against Elon...
by bdcravens on Monday April 22, 2024 @10:49AM
(#40114939)
Market cap isn't the same thing as revenue. Their annual car revenue is somewhere in the neighborhood of $100B a year, which still is the lion's share, but anything that generates 5-10% of revenue isn't something to ignore, especially when you have a couple of those. Apple's Mac sales are only 15% of their iPhone revenues, for example.
Even after the recent plunge (it's only a beginning) it's valued at $460B.
$6-12B of best case projected revenue, with low margins, by 2030 is meaningless for a company with this kind of valuation, to say it politely.
Tesla valuation was justified by a myriad of promises from Musk, and analysts that started to believe that sales of EVs will grow by 50% each year for the next 10 years.