Tesla rallies as investors prep for earnings and robotaxi developments

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Tesla (NASDAQ:TSLA) traded higher on Monday as investors prepare for the electric vehicle maker’s Q2 earnings report and wait for word if the August 8 robotaxi event is being postponed.

Morgan Stanley does not think a delay in the robotaxi event would be a negative. Analyst Adam Jonas and his team see scope for the postponed robotaxi day to highlight more of Tesla’s (TSLA) embodied AI capabilities beyond app-based autonomous cars. The firm expects Tesla’s Master Plan 4 to be underpinned by its commercial ambitions in AI, robotics, and hybrid compute (including distributed thermal and compute in the car) that spans from cloud to edge. “Over the next few months/quarters we expect to see the world of GenAI (digital AI assistants) colliding with the automotive ecosystem,” noted Jonas.

Elon Musk made some news over the weekend by saying he “fully endorses” Donald Trump. Earlier in the month, Musk appeared to have reversed his prior position about not donating to either the Republican or Democratic presidential candidates when he reportedly gave a significant amount of money to America PAC, which is a powerful political action committee established in Austin, Texas. Some analysts think Tesla (TSLA) would benefit in a new Trump Administration, even if some government support for electric vehicles is reversed.

Shares of Tesla (TSLA) were up 4.00% in premarket action to $258.16. The EV stock is up more than 40% over the last six weeks.

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