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Google Bard predicts Tesla stock price after Cybertruck launch

Google Bard predicts Tesla stock price after Cybertruck launch

In recent weeks, Tesla‘s (NASDAQ: TSLA) stock has faced mounting pressure following a disappointing quarterly report that unveiled a notable decline in earnings and operating margins. 

This downturn can be attributed to a series of price reductions implemented by the electric vehicle giant throughout the year, which have strained the company’s profitability. 

Nonetheless, amidst these challenges, Tesla investors can still hold optimism in their hearts. During the latest earnings call, the company revealed that the eagerly awaited Cybertruck’s first production models will roll out on November 30th at the Gigafactory in Austin, Texas, marking a significant milestone after multiple delays. 

The stock’s trajectory remains uncertain, prompting us to turn to AI bot ChatGPT for insights on how these recent developments, especially the Cybertruck deliveries, may influence Tesla’s stock price in the near future.

Google Bard on Cybertruck’s impact on TSLA

Alphabet’s (NASDAQ: GOOGL) Google Bard was aware of recent headwinds related to Tesla’s earnings and the subsequent share price drop, however, the AI bot believes the much-anticipated start of Cybertruck deliveries has the potential to offset these losses. 

“The upcoming Cybertruck launch is a major event for Tesla, and it is likely to have a positive impact on the company’s stock price. The Cybertruck is a highly anticipated vehicle, and it has the potential to expand Tesla’s reach into new markets.”

– Google Bard said in the response.

But at the same time, there are also certain risks that could lessen the positive Cybertruck impact on TSLA, including supply chain issues, mounting costs, and intensifying competition in the electric vehicle (EV) market, added Bard.

In addition, Cybertruck is still “a new and unproven product, and it is possible that it could encounter production delays or other setbacks,” the AI tool wrote. 

Google Bard on Cybertruck’s impact on TSLA. Source: Google Bard

Bard’s TSLA stock price prediction

Overall, Bard said it believes that the upcoming Cybertruck launch is likely to have a positive impact on Tesla’s stock price, but the magnitude of the impact will depend on a number of factors, it pointed out. 

When asked about where it sees TSLA trading at the start of 2024, Bard thinks “it is possible for the stock to reach $250 per share.”

“This would represent a gain of about 15% from the current price. However, it is also possible for the stock to trade lower than $218 per share, depending on the factors mentioned above.”

– the bot noted.
Bard’s prediction for TSLA. Source: Google Bard

Apart from Cybertruck, factors that could also positively influence Tesla’s share price in the future include demand for EVs, the company’s potential expansion into new markets, and new product launches.

On the other hand, possible risks that may pressure TSLA include rising costs, macroeconomic factors like recession, and increasing competition in the market, said Bard. 

Tesla stock price analysis

At the time of publication, shares of Tesla were sitting at $219.08, up 1.18% in the past 24 hours.

Over the last week, TSLA lost around 3.3%, and more than 11.7% on the month, pushing its market cap down to $683.2 billion.

TSLA 1-month price chart. Source: Finbold

Year-to-date, however, shares of Tesla remain firmly up, at +101%. 

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