Tesla Shares Reached Yearly Peak: Here Are the Reasons

New Peak in Tesla Shares

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

Robotaxi Tests Have Started

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

Expectations for Next Year

Investors are excited about Tesla's anticipated Cybercab launch in 2024. Tesla is starting to be viewed 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 would be a “monster year” for Tesla, predicting that the company's market value will reach $2 trillion.

Analyst Opinions and Price Targets

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

SpaceX IPO

Musk’s SpaceX is expected to go public next year with a valuation of $1.5 trillion. Ives believes that this potential will expand the Musk ecosystem for Tesla investors. The AI revolution is thought to be in its early stages, which is generating more excitement in the markets.

Optimus Robots and Investor Excitement

Musk also announced that Tesla plans to start scaled production of Optimus robots in 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 or R2-D2,” highlighting the future of robot technology.