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We asked ChatGPT what will be Tesla stock price end of 2023; Here’s what it said

We asked ChatGPT what will be Tesla stock price end of 2023; Here’s what it said

After losing roughly 50% of its stock value in 2022, Tesla (NASDAQ: TSLA) has reignited investors’ interest this year following its robust recovery driven by a number of factors, including a series of aggressive price cuts, improving macroeconomic conditions, and the broader market rebound. 

With many investors still keen on the world’s largest electric vehicle (EV) maker, predicting Tesla’s future stock price remains the subject of high speculation and debate. 

In that light, Finbold decided to leverage the powerful artificial intelligence (AI) tool, ChatGPT, asking it to offer potential insights into TSLA’s price by the end of 2023 and what are the key factors that could affect it. 

What did ChatGPT say?

While the impressive chatbot did not provide a specific price prediction on Tesla’s stock price, it listed the most important points that could make an impact in the coming months.  

Those include Tesla’s past performance in the stock market, the potential influence of its CEO Elon Musk, shifting market sentiment, and the company’s financial performance.

Regarding past performance, ChatGPT said Tesla’s “historical volatility and financial performance can impact investor sentiment” and its possible price movements. The carmaker’s latest quarterly report was very close to Wall Street estimates, with earnings matching expectations, while revenue growth was slightly ahead. 

Another factor that investors should keep an eye on, according to the chatbot, is the global demand for EVs as Tesla’s position as a market leader could “influence investor sentiment and potentially drive the stock price.” 

ChatGPT’s prediction on TSLA. Source: ChatGPT

Other AI predictions on Tesla

Last week, Finbold also tapped Alphabet’s rival AI language model, Google Bard, to forecast TSLA’s potential share price for the end of 2023. 

Google’s AI bot was more specific, estimating that Tesla’s shares will “trade between $200 and $300 per share by the end of the year.” Bard said its prediction is based on Tesla being “well-positioned to continue to grow its sales and earnings” while risks to its share price remain “manageable.”

Meanwhile, the estimates offered by CoinPriceForecast, the finance prediction platform that utilizes machine self-learning technology, were significantly more bullish. The platform expects TSLA’s price to hit $365 by the end of 2023, implying a strong upside of 65% compared to current price levels, according to data retrieved by Finbold. 

Tesla price prediction by CoinPriceForecast. Source: CoinPriceForecast

Tesla stock price analysis

At the time of publication, Tesla’s shares were trading at $221.31, up 1.7% on the day. Over the past week and month, the carmaker’s stock gained 10.6% and 35%, respectively. 

TSLA 1-day price data. Source: Finbold

Year-to-date, TSLA saw a significant rebound, rising more than 86.8% since the start of 2023. 

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