Tesla Stock Is Hit By Its Latest Earnings. Bullish Analysts Aren’t Worried [Video]

Tesla (TSLA) stock tumbled Wednesday, a day after the electric vehicle (EV) maker reported weaker-than-expected earnings.

The results, as well as the pile of updates offered on Tesla’s conference call, left Wall Street analysts divided on the company’s outlook.

More bullish analysts, like those at Wedbush and Piper Sandler, were optimistic about future efforts such as Tesla’s planned autonomous “robotaxis” and updates to its self-driving software. JPMorgan analysts, meanwhile, focused on Tesla’s lower profits, reiterating a view that Tesla stock has become “divorced from the fundamentals.”

Tesla shares were recently down about 11%, roughly representing their year-to-date decline after gains earlier this month.

Wedbush analysts have repeatedly called Tesla more of an artificial intelligence (AI) and robotics company than a traditional car company. They wrote Wednesday that they weren’t expecting “major fireworks” from Tuesday’s earnings, and were more focused on the long-term vision for the company.

EV demand metrics are improving, …