Elon Musk’s latest lofty prediction for Tesla (TSLA) looks pie in the sky, even by his standards.
“I see a potential path to be worth more than Apple and Saudi Aramco combined,” Musk proudly proclaimed on the company’s earnings call on Wednesday.
Doing the math, that would put Tesla’s worth at about $4 trillion at some point. Tesla’s current market cap is $652 billion, according to Yahoo Finance data.
Analysts say that valuation may not happen for eons, if at all.
“That seems quite a bit of a stretch,” Colin Langan, equity analyst at Wells Fargo, said on Yahoo Finance Live (video above). “You would have to give them full credit for all of these factors that I consider more long-term optionality issues. So things like whether you can get true level four self-driving, whether there is some value in the Optimus bot, Dojo, and these future projects. I think from a pure automaker side, that [valuation] is going to be extremely difficult to do.”