Apple, Microsoft and … Tesla?
Ark Investment founder Catherine Wood told CNBC Tuesday she saw Tesla
TSLA, + 2.83%
Within five years, they rose to $ 6,000, a move that would put the electric car maker in the cramped atmosphere of the other trillion-dollar companies. Tesla is currently below the $ 100 billion market cap.
"When we look at other automakers how far behind Tesla we are beginning to think that they may not lose market share, which is a big change in our assumptions," she said, pointing to that market share when she said in February 2018 When she first predicted that Tesla would reach $ 4,000, she raised concerns.
Autonomous vehicles will continue to be a great driver in the future, with Tesla positioned as the dominant player in space from their perspective. "The company with the most data and the highest data quality has the edge on autonomous platforms and on all projects with artificial intelligence," she said. "This company is Tesla."
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The stock clearly has a long way to go, but has caught fire recently. Stocks that have more than doubled since September hit a new record high on Tuesday, most recently rising 3.3% to $ 542.14.
Meanwhile, Wall Street continues to struggle to raise price targets. Deutsche Bank analysts have just set their goal of $ 290 to $ 455, an increase of 57%. Unlike Wood, however, they are concerned that "investor sentiment has quickly become too bullish and ignored some of the short-term execution risks."
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