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We asked ChatGPT-4o what will be Tesla price at the end of 2024; Here’s what it said

We asked ChatGPT-4o what will be Tesla price at the end of 2024; Here’s what it said

While not trying to reach Dublin, as far as anyone can tell, Elon Musk’s electric vehicle (EV) maker, Tesla Motors (NASDAQ: TSLA), has certainly been on a rocky road since the start of 2024.

Indeed, by the start of 2024, the industry appeared fully in the grip of the ‘EV winter’ as, perhaps, best exemplified by the fact Tesla sold a single car in South Korea in January. 

As the first quarter was drawing to a close, Elon Musk’s company issued a devastating delivery report which prompted certain analysts to foresee a further 30% drop and generally tempert earnings expectations.

The earnings report, however, despite not being particularly strong, when paired with an energetic Musk and the buzz surrounding the vaguely announced ‘Robotaxi’ – also referred to as the ‘Cybercab’ – caused a significant rally back above $190 from the yearly lows close to $140.

By mid-May, however, the gains of April are already halfway gone, and Tesla’s price today stands at $174.62.

TSLA stock YTD price chart. Source: Finbold

With the trials, tribulations, and promises in mind, Finbold decided to consult the most advanced version of OpenAI’s flagship artificial intelligence (AI) platform – ChatGPT-4o – on how TSLA shares might fare by the end of 2024.

ChatGPT sets TSLA stock price for end of 2024

After analyzing the happenings pertaining to Tesla since the start of 2024 – those in the stock market, on the business side, but also those affecting the entire industry – ChatGPT considered that it is likely that, given TSLA’s track record and continued strong position, it will continue providing technological innovations and thus, that it will continue seeing a recovery.

Following from the analysis, the AI concluded, after also assuming that the economy does not suffer from any major shocks, Tesla shares might find themselves in the range between  $180 and $190 by late December.

ChatGPT offers the baseline TSLA stock price target. Source: Finbold and ChatGPT

When inquired about the ‘Robotaxi,’ ChatGPT analyzed Elon Musk’s track record, the associated technical challenges, but also the type of an achievement an autonomous cab would be.

Ultimately, without revising its price target, the AI decided that it is highly plausible a ‘Robotaxi’ will be unveiled in August as announced, but also that the matter of serial production and deployment is an entirely separate – and far greater – issue.

ChatGPT discusses the Tesla Robotaxi. Source: Finbold and ChatGPT

ChatGPT offers a more bullish view

Continuing its analysis, ChatGPT concluded that it is possible TSLA might perform substantially better in the coming months, though its reasoning remained mostly vague.

Indeed, the AI assessed that, should Tesla have a very successful launch of a new model, expand in new and key markets, and offer a technological breakthrough, its shares might rocket and reach the range between $230 and $240 before the year is out.

ChatGPT offers the bullish TSLA stock price target. Source: Finbold and ChatGPT

ChatGPT warns of a more bearish outcome

Finally, ChatGPT warned about the danger of self-driving technology (FSD) suffering a major setback remains relatively high. This, particularly paired with ever-growing competition in the EV industry, and potential for supply chain disruptions – an acute danger given the ongoing conflicts – could cause Tesla to suffer a strong downturn.

ChatGPT offers the bearish TSLA stock price target. Source: Finbold and ChatGPT

Finally, the AI also added that a wider economic downturn – also an acute danger given the high levels of uncertainty and recessionary fears that persist in May 2024 – TSLA is unlikely to escape unscathed and could drop to a low range between $140 and $150 by late December.

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