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 stemmed from growing optimism regarding Tesla's autonomous goals in the electric vehicle market. CEO Elon Musk announced that Tesla has begun testing robotaxis with no one in the vehicles in Austin.

Robotaxi Testing Has Begun

The company initially launched its robotaxi platform in June with modified Full Self-Driving capable Model Y vehicles. It is known that a safety supervisor was also onboard during the initial test drives. However, with Musk's recent announcement, it has been confirmed that robotaxis are now being tested "without any passengers in the vehicle." This move has heightened investors' expectations about Tesla's future potential.

Expectations for Next Year

Investors are excited about Tesla's anticipated Cybercab launch in 2024. Tesla is being regarded as a software and robotics giant that has the capacity to offer much more than just being an electric vehicle manufacturer. Wedbush analyst Dan Ives emphasized that 2026 will be a "monster year" for Tesla, forecasting that the company's market value will reach $2 trillion.

Analyst Opinions and Target Prices

Ives is tracking Tesla shares with a target price of $600, the highest level on Wall Street. Overall, Wall Street analysts have an average target price of $401.29. Tesla shares have 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. The artificial intelligence revolution is thought to still be in its early stages, which is causing more excitement in the markets.

Optimus Robots and Investor Excitement

Musk also stated 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 noted, "I think everyone will want their own personal C-3PO, R2-D2," highlighting the future of robotic technology.