Wall Street is talking about kicking Tesla out of the Big Seven.
On February 5, local time, Tesla's stock price was once **7% intraday, and as of the U.S. stock **, Tesla's stock price **365% to close at 181$06 shares, the lowest since late May last year; The total market capitalization was US$576.6 billion, a decrease of US$21.8 billion (about RMB 156.9 billion) from the previous trading day**.
Since entering 2024, Tesla's negative news has appeared frequently, and the stock price has been declining. Compared to 248 on December 29 last yearThe ** price of $48 shares, Tesla's stock price has fallen by 27% since the beginning of this year, and the total market value has fallen by 2132$600 million.
Some foreign media reports pointed out that Tesla's stock price has fallen staggeringly, and its decline has even exceeded that of the negatively riddled Boeing, which is causing serious controversy over the safety of commercial aircraft, and its stock price has fallen by 21% since the beginning of this year, which is lower than Tesla.
On the news side, on February 5, local time, the German IT giant SAP removed Tesla from its list of car manufacturers. According to the head of the SAP fleet, Tesla's volatility has made planning more difficult and carries higher risks. At the same time, foreign media reported that Tesla usually delivers earlier than the agreed time, which brings trouble to SAP as a customer.
Although it is uncertain what percentage of Tesla's fleet is SAP, SAP's exit means that Tesla's efforts to expand the corporate car market have been frustrated, which will undoubtedly make the situation worse in the already sluggish situation. As soon as the news came out, Tesla fell about 7% intraday.
Due to the continuous negative news, Wall Street has been hotly discussing kicking Tesla out of the "Big Seven".
Over the past year, seven U.S. tech giants, including Apple, Microsoft, Amazon, Google's parent company Alphabet, Meta, Nvidia and Tesla, have been talked about by Wall Street. But recently, many Wall Street analysts have said that Tesla's **recently** seems to have begun to threaten its position in this giant portfolio.
However, after entering 2024, Tesla's weakness is clear at a glance, in the past 12 months, only Tesla's stock price of the "Big Seven" has appeared**, while the stock prices of the other six technology companies have frequently hit record highs, with a market capitalization of more than $1 trillion.
In a more direct comparison, the market capitalization of Meta, the parent company of Facebook, was 1$17 trillion, more than twice Tesla's total market capitalization.
Tesla's stock price performance was heavily dragged down by its performance. In the recent earnings season, Tesla was the only one of the "Big Seven Tech" that did not beat market expectations in the fourth quarter of 2023.
On January 25, Tesla released its fourth-quarter earnings report after market hours on Wednesday. According to the financial report, in the fourth quarter of 2023, the company's total revenue will be 251$6.7 billion, up 3% year-on-year, compared to analyst expectations of 258$700 million; Net income attributable to ordinary shareholders was 79US$2.8 billion, an increase of 115% year-on-year; Non-GAAP net income attributable to common shareholders was 24US$8.6 billion, a year-on-year decrease of 39%. In terms of gross margin, the gross profit margin in the fourth quarter was 176% versus 181%。
Looking ahead to 2024, Tesla said its sales growth rate in 2024 "is likely to be significantly lower than the growth rate in 2023 as our team works on launching the next generation of vehicles at Gigafactory Texas."
Tesla's profits fell 23% from 2022 to 2023, according to market research firm FactSet, and analysts expect it to decline further.
Brandon Michael, senior investment analyst at ABC Funds, said that the current pattern of U.S. stocks seems to be more like the "Big Six" because "Tesla is facing a lot of problems, including competition from Chinese electric car manufacturers, price cuts, shrinking profit margins, and even Musk himself has admitted that the Dojo supercomputer is an unattainable target."