Tesla Stocks Reach Yearly Peak: Here Are the Reasons

New Peak in Tesla Shares

Tesla (TSLA) shares reached a new all-time high of $489 on Tuesday, catching the attention of investors. This development was fueled by increasing optimism regarding Tesla's autonomous goals in the electric vehicle market. CEO Elon Musk announced that Tesla has begun testing robotaxis in Austin without anyone in the vehicles.

Robotaxi Tests Have Started

The company first launched its robotaxi platform with modified Full Self-Driving feature Model Y vehicles in June. It is known that a safety supervisor was also present in the vehicle during initial drives. However, with Musk's latest announcement, it has been confirmed that robotaxis are now being tested “without any passengers in the vehicle.” This step has heightened investors' expectations regarding Tesla’s future potential.

Expectations for Next Year

Investors are excited about the anticipated launch of the Cybercab in 2024. Tesla is increasingly being viewed as a software and robotics giant capable of offering much more than just being an electric vehicle manufacturer. Wedbush analyst Dan Ives emphasized that 2026 will be a “monster year” for Tesla and predicted that the company’s market value would reach $2 trillion.

Analyst Opinions and Target Prices

Ives is tracking Tesla shares with a target price of $600, which is the highest level on Wall Street. Overall, the average target price from Wall Street analysts stands at $401.29. Tesla shares possess significant potential, not only in the automotive sector but also in terms of autonomous and mobility revenues.

SpaceX’s IPO

Musk's SpaceX is expected to go public next year with a valuation of $1.5 trillion. Ives believes this potential will expand Musk's ecosystem for Tesla investors. It is thought that the artificial intelligence revolution is still in its early stages, which generates further excitement in the markets.

Optimus Robots and Investor Excitement

Musk also announced that Tesla plans to begin scaled production of Optimus robots by mid-2026. Investors believe that such innovations will have a positive impact on Tesla shares. Musk stated, “I think everyone will want their own personal C-3PO, R2-D2,” highlighting the future of robotic technology.