Gene Munster, Will ThompsonUber Taking Out Empty CaloriesUber reported Q4 2019 earnings with revenue in line with the Street and a net loss 6% better than expectations. We are incrementally more positive on the Uber story, given the company’s cost-cutting in December did not impact revenue growth,…Read more Themes
Gene MunsterTesla Faces Headwinds as Expectations RiseBottom Line: Tesla’s market cap has nearly doubled over the last month and has tripled since the end of Q3. The excitement driving such a dramatic rise presents short term risk. We believe current pricing may be overlooking: Sequential delivery…Read more Tesla
Gene MunsterWhy Is TSLA Still Surging?Tesla shares are up 20% today following a 45% move over the previous month. The most recent share price surge is attributed to a combination of two factors: short-covering and greater investor optimism that Tesla is a tech company that…Read more Autonomous Vehicles, Tesla
Gene Munster, Will ThompsonTesla: How Much Is the Future of Transportation Worth?Tesla reported Dec-19 earnings of $2.14 per share (vs expectations of $1.72) and revenue of $7.38B (vs expectations of $7.02B). The company generated $1B in operating cash flow less capex vs. the Street at $429m. Shares were up much as…Read more Tesla
Gene MunsterApple Strengthens Its Case for a Higher MultipleApple’s December results strengthen the case that the company deserves a higher earnings multiple. There are currently two conventional investor views on Apple’s valuation: First, while Services have diversified the company’s business, Apple is still a “supercycle” boom and bust…Read more Apple, Wearables
Gene Munster, Will ThompsoniPhone 5G Roadmap: One Step Back, Three Steps ForwardWe believe Apple will be one of 5G’s biggest beneficiaries. The company has potentially four initiatives that will benefit from 5G: iPhone, augmented reality, healthcare, and the long shot wild card of autonomous vehicles. While multiple Apple segments will gain,…Read more Apple, Augmented Reality
Gene Munster, Will ThompsonWhy Is TSLA Surging?Tesla shares are up 9% today following a 34% move over the previous month. This most recent share price surge is attributed to a combination of two factors, short-covering and greater investor optimism regarding Tesla’s 2020 demand. We continue to…Read more Tesla
Gene MunsterUS 5G Coverage Still Two Years AwayOver the past six months, we have been tracking US carrier comments related to 5G deployment along with the number of 5G cities launched and coverage within those cities. Based on the most recent updates, we continue to believe that…Read more Themes
Gene Munster, Will ThompsonTesla Takes Another Measurable Step ForwardTesla takes another measurable step forward with 112k deliveries, ahead of Street expectations of 106k. This is the 3rd consecutive quarter of sequential delivery growth despite declining tax credits and trade headwinds, further evidence that consumer demand for EVs is…Read more Tesla
Gene MunsterThe Bull Case for Long-Term Tesla InvestorsThe recent move in shares of TSLA (up 30% in the past month) has largely been driven by short sellers covering positions based on the emerging consensus that Tesla will stay in business long-term. That said, Tesla has not won…Read more Autonomous Vehicles, Tesla
