Tesla (NASDAQ: TSLA) is riding a secular tailwind as consumer adoption of electric vehicles, or EVs, soars. Meanwhile, Nvidia (NASDAQ: NVDA) faces near-term headwinds with more inventory than it would like. This video will answer which is the better growth stock to buy.
What happened
Tesla (NASDAQ: TSLA) shares are starting the week on a down note. The stock began 2023 with impressive gains of more than 50% as many investors bought the dip after a 65% correction in 2022.
In early trading on Monday, shares of Microsoft topped the list of the day's best performing components of the Nasdaq 100 index, trading up 3.5%. Year to date, Microsoft registers a 13.5% gain.
In early trading on Monday, shares of SolarEdge Technologies topped the list of the day's best performing components of the S&P 500 index, trading up 2.9%. Year to date, SolarEdge Technologies registers a 9.2% gain.
The Nasdaq index was set to open higher on Monday as beaten-down megacap growth stocks gained, while Meta Platforms climbed on reports of fresh layoffs.
Tesla (NASDAQ: TSLA) may have the lead, but Rivian (NASDAQ: RIVN) and Lucid (NASDAQ: LCID) are quickly ramping up production. This video will answer which one of these EV stocks is the best one to buy.
Tesla (TSLA) has recently been on Zacks.com's list of the most searched stocks. Therefore, you might want to consider some of the key factors that could influence the stock's performance in the near future.
The NASDAQ 100 Pre-Market Indicator is up 46.94 to 12,351.86. The total Pre-Market volume is currently 32,839,839 shares traded.The following are the most active stocks for the pre-market session: ProShares UltraPro QQQ (TQQQ) is +0.3301 at $24.15, with 3,814,471 shares traded.
Wall Street proved mortal for the fifth trading week of 2023. My "three stocks to avoid," which I thought were going to lose to the market in the past week -- Tesla Motors, Apple, and 1-800-Flowers.com -- rose 4%, fell 2%, and plunged 12%, respectively, averaging out to an 3.3% d
Upon first glance, the headline of rideshare giant Uber Technologies Inc. (NASDAQ: UBER) earning a GAAP profit of $0.29 per share sends the mind racing. Investors euphorically rejoiced that Uber had finally hit actual profitability on a GAAP basis, as shares spiked 5% on the new
Nasdaq futures ticked higher on Monday, supported by gains in beaten-down megacap growth stocks after a recent rally in U.S. Treasuries showed signs of cooling, while Meta Platforms rose on reports of a fresh set of layoffs.
Electric vehicle (EV) maker Rivian Automotive Inc. (NASDAQ: RIVN) is racing to ramp up production before the cash runs out. It produces and delivers EVs. It needs to bolster its production since low production on a high line results in more significant losses. The more it can pr
Slashed prices have given Tesla's China sales a pop, but analysts, and even fans, warn the U.S. automaker needs to up its long-term game to avoid choking on the dust of fast-moving rivals in the world's biggest electric vehicle market.
Tesla (
NASDAQ:TSLA
) and Nvidia (
NASDAQ:NVDA
) stocks declined over 65% and 50%, respectively, in 2022, significantly underperforming the benchmark index. However, both of these stocks quickly recovered in 2023. TSLA gained about 60%, while NVDA marked an increase of approximately 46% year-to-date. While both of these stocks outperformed the S&P 500 Index (
SPX
) this year, analysts’ one-year price targets show limited or no further upside. Let’s dig deeper.
Is Tesla Stock Likely to Go Up?
The consensus 12-month price target of $199.78 on TSLA stock suggests a limited upside of 1.47% over the next 12 months. Notably, Tesla stock jumped this year following its CEO
Elon Musk’s positive commentary about demand and production during the Q4 (fourth quarter) conference call. Meanwhile, the company is seeing solid orders that are outpacing production.
However, economic uncertainty and pressure on consumer spending indicate a contraction in the automotive market in 2023, which could restrict the upside.
Tesla stock has received 21 Buys, six Holds, and three Sells for a Moderate Buy consensus rating. While analysts see limited upside, hedge funds are bullish about TSLA stock. Our data shows that hedge funds
bought 1.2M shares of TSLA last quarter. Overall, TSLA stock has an Outperform Score of nine on TipRanks.
What is the Prediction for Nvidia Stock?
The demand uncertainty, slowdown in the end market, and inventory issues dragged
NVDA stock lower in 2022. However, inventory issues are waning, which is a positive for semiconductor stocks like NVDA. Furthermore, the company will likely benefit from new products, including AI (artificial intelligence) and high-performance computing applications. In addition, Nvidia will likely benefit from the momentum in the Data Center segment.
The company is returning a significant amount of cash to its shareholders through share buybacks and dividends. However, positives appear to be priced in. Also, global macroeconomic uncertainty could pose challenges in the short term.
Nvidia stock has a Strong Buy consensus rating on TipRanks based on 22 Buy, five Hold, and one Sell recommendations. However, analysts’ average price target of $209.19 implies a downside of 1.63% from current levels.
Besides for analysts, hedge funds are also bullish about NVDA stock. Hedge funds bought 10.2M shares in the last three months. Also, NVDA stock
scores a “Perfect 10” on TipRanks’ Smart Score system. Note: Shares with a
“Perfect 10” Smart Score have historically outperformed the benchmark index.
Bottom Line
TSLA and NVDA stocks outperformed the broader markets in 2023. Moreover, both of these companies have an Outperform Smart Score on TipRanks. However, given the recent surge in their stock prices, the positives appear to be priced in.
Disclosure
Slashed prices have given Tesla'sO> China sales a pop, but analysts - and even fans - warn the U.S. automaker needs to up its long-term game to avoid choking on the dust of fast-moving rivals in the world's biggest electric vehicle market.
The past year was tough for investors. 2022 was marked by historically high inflation, rising interest rates, and the worst market downturn in over a decade. Each of the three major market indexes fell into bear market territory last year, and even the best growth stocks weren't
There are always undervalued companies on the stock market, but there are even more opportunities today than a year or two ago. Not only are price-to-earnings multiples low for many companies, but growth opportunities aren't being appreciated either.
After a tough 2022, the market offered us a glimmer of hope recently. The three major indexes rallied in the first month of the year. And that's got all of us ready to welcome the next bull market. Are we being too optimistic? I don't think so. Here's why.
In this week's video, I cover everything you need to know about news related to Tesla (NASDAQ: TSLA) during the week of Feb. 6. Today's video will focus on Tesla's Master Plan 3, sales in China and California, and some technical analysis on the stock.