Index Investing News
Wednesday, May 28, 2025
No Result
View All Result
  • Login
  • Home
  • World
  • Investing
  • Financial
  • Economy
  • Markets
  • Stocks
  • Crypto
  • Property
  • Sport
  • Entertainment
  • Opinion
  • Home
  • World
  • Investing
  • Financial
  • Economy
  • Markets
  • Stocks
  • Crypto
  • Property
  • Sport
  • Entertainment
  • Opinion
No Result
View All Result
Index Investing News
No Result
View All Result

Tesla stock will gain 550% and SpaceX’s valuation will triple by 2030 under Elon Musk’s leadership, top investor says

by Index Investing News
January 27, 2024
in Financial
Reading Time: 2 mins read
A A
0
Home Financial
Share on FacebookShare on Twitter


Elon Musk.Mario Tama/Getty Images

  • Fund manager David Baron broke down his highly bullish views on Elon Musk-led Tesla and SpaceX.

  • He told Bloomberg Tesla can soar 550% and SpaceX can triple in valuation by 2030.

  • Both companies were the largest holdings in Baron’s fund as of December 31, 2023.

Shares of Tesla have tanked this week following a downbeat earnings outlook, but fund manager David Baron remains bullish on Elon Musk’s carmaker, as well as his rocket-producer SpaceX.

He forecasts Tesla stock to gain about 550% to hit $1,200 a share by 2030, and for SpaceX to triple in valuation over the same period, according to a recent interview conducted by Bloomberg.

Baron runs the Baron Focused Growth Fund, which counted Tesla and SpaceX as its largest holdings as of December 31, 2023. The fund climbed 28% in 2023, outperforming the S&P 500’s gain of 24%.

Baron told Bloomberg that the growth outlook for Musk’s companies remains strong, even if it has moderated from previous calls.

“While he may not be growing 50% a year as the company thought, this year in a tough environment he’s still growing volume by 15% to 20% per year and making us $7,000 per car of gross profit,” Baron said.

His comments come on the heels of a rough week for Tesla, which reported revenue and profit that lagged estimates, and warned of a production slowdown in 2024. The stock tumbled 12% on Thursday following the results and a tumultuous earnings call one analyst called a “train wreck.”

“This was the most sobering outlook I have seen from Tesla,” Gene Munster, the managing partner at Deepwater, said in an interview with CNBC Wednesday.

Meanwhile, Baron expects SpaceX’s valuation to increase by 20% this year. Longer term, he sees it doubling within three years and tripling by 2030. Bloomberg previously reported the company is worth more than $175 billion.

The Tesla allocation in Baron’s fund is critical for his ambition to boost his total assets to $2 billion, up from current levels of about $1.3 billion.

One reason Baron is so bullish on Musk is that the world’s richest person still holds a significant stake in his companies. Baron says he looks for such ownership levels when deciding where to invest.

“[Musk’s] interests are aligned with ours,” Baron maintained. “He’s not going to do anything stupid to change the trajectory of the companies.”

Read the original article on Business Insider



Source link

Tags: ElonGainInvestorleadershipMusksSpaceXsStockTeslaTopTripleValuation
ShareTweetShareShare
Previous Post

Grandfather Sues For Rape & False Imprisonment, Says Facial Recognition Software Falsely Identified Him As Robbery Suspect

Next Post

U.S. says Delta-Aeromexico to lose codeshare tie-up after Mexico airport changes By Reuters

Related Posts

PepsiCo India posts ₹1,172 crore revenue in CY24 on sturdy meals, beverage development

PepsiCo India posts ₹1,172 crore revenue in CY24 on sturdy meals, beverage development

by Index Investing News
May 28, 2025
0

Jagrut Kotecha, CEO of PepsiCo India & South Asia PepsiCo India reported a web revenue of ₹1,172 crore in CY24,...

Local weather change might be driving up most cancers charges in ladies, research finds

Local weather change might be driving up most cancers charges in ladies, research finds

by Index Investing News
May 27, 2025
0

Within the U.S., most cancers charges are going up—particularly for younger and middle-aged ladies, whose most cancers diagnoses have surpassed...

Xiaomi Company (XIACF) Q1 2025 Earnings Name Transcript

Xiaomi Company (XIACF) Q1 2025 Earnings Name Transcript

by Index Investing News
May 27, 2025
0

Xiaomi Company (OTCPK:XIACF) Q1 2025 Earnings Convention Name Might 27, 2025 7:30 AM ET Firm Members Lu Weibing - PresidentAlain...

LIC declares Rs 12 remaining dividend after sturdy FY25 earnings, units file date

LIC declares Rs 12 remaining dividend after sturdy FY25 earnings, units file date

by Index Investing News
May 27, 2025
0

Life Insurance coverage Company of India (LIC) has really helpful a remaining dividend of Rs 12 per fairness share for...

BSNL worthwhile for two back-to-back quarters for first time in 18 years; Jan-Mar PAT at Rs 280 crore

BSNL worthwhile for two back-to-back quarters for first time in 18 years; Jan-Mar PAT at Rs 280 crore

by Index Investing News
May 27, 2025
0

BSNL Posts 2nd Consecutive Quarterly Revenue FY25: Bharat Sanchar Nigam Ltd (BSNL) on Tuesday reported a uncommon, second straight quarter of...

Next Post
U.S. says Delta-Aeromexico to lose codeshare tie-up after Mexico airport changes By Reuters

U.S. says Delta-Aeromexico to lose codeshare tie-up after Mexico airport changes By Reuters

Adam Schiff Praises “True Justice” Of Donald Trump M Jury Verdict Today – Deadline

Adam Schiff Praises “True Justice” Of Donald Trump $83M Jury Verdict Today – Deadline

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

RECOMMENDED

IPL 2022 GT vs CSK Dwell Rating: Mohd Shami strikes, Titans get Uthappa early

IPL 2022 GT vs CSK Dwell Rating: Mohd Shami strikes, Titans get Uthappa early

April 17, 2022
Lombardi Properties JV Sells Fort Myers Procuring Heart

Lombardi Properties JV Sells Fort Myers Procuring Heart

May 17, 2025
COVID wrecked college attendance and it is significance to oldsters, youngsters — however there’s a lot we will do

COVID wrecked college attendance and it is significance to oldsters, youngsters — however there’s a lot we will do

March 6, 2025
Is GOOG done for? : stocks

Is GOOG done for? : stocks

December 28, 2022
Chinese asset manager eyes restructuring to ease liquidity crunch amid contagion fears By Reuters

Chinese asset manager eyes restructuring to ease liquidity crunch amid contagion fears By Reuters

August 17, 2023
Beachfront Perch Offers Luxury Living Along Florida’s Atlantic Coast

Beachfront Perch Offers Luxury Living Along Florida’s Atlantic Coast

January 21, 2023
Katy Perry Claimed That The Eye-Glitch That Made The Rounds Was An Act

Katy Perry Claimed That The Eye-Glitch That Made The Rounds Was An Act

October 28, 2022
Trump plans to drop Monopoly-style crypto recreation that lets gamers roll, construct, and earn

Trump plans to drop Monopoly-style crypto recreation that lets gamers roll, construct, and earn

April 16, 2025
Index Investing News

Get the latest news and follow the coverage of Investing, World News, Stocks, Market Analysis, Business & Financial News, and more from the top trusted sources.

  • 1717575246.7
  • Browse the latest news about investing and more
  • Contact us
  • Cookie Privacy Policy
  • Disclaimer
  • DMCA
  • Privacy Policy
  • Terms and Conditions
  • xtw18387b488

Copyright © 2022 - Index Investing News.
Index Investing News is not responsible for the content of external sites.

No Result
View All Result
  • Home
  • World
  • Investing
  • Financial
  • Economy
  • Markets
  • Stocks
  • Crypto
  • Property
  • Sport
  • Entertainment
  • Opinion

Copyright © 2022 - Index Investing News.
Index Investing News is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In