Tesla overtaking Apple It will be an ambitious dream that Elon Musk seeks to realize in the near future. The CEO of Tesla Motor Company, Elon Musk, announced that the value of Tesla’s shares could soon exceed Apple’s.
It seems that Tesla’s board of directors, in order to The rise in the value of Tesla shareshave decided to buy back their shares. According to the financial results of the third quarter of 2022 of the Tesla company published by Elon Musk, we must say that the company had a revenue of $21.5 billion (about $500 million less than Wall Street expected) and a profit of $1.05 per share (against $1.00 in expected by Wall Street) in this period of time. Of course, this amount of profit is only related to the third quarter of this company and it has been in an unfavorable situation in recent months. In fact, it can be said that the results of the third quarter had no effect on the difficult days of this company.
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Elon Musk’s new claim of Tesla overtaking Apple
After the reports were published, Tesla CEO Elon Musk, during a conference call with the company’s other investors, decided to increase the value of their shares by buying back $5-10 billion of stock, which seems reasonable. The share buyback program will be such that the investors of the company buy their shares at the market price. Also, the company believes that its shares are priced lower than their value in the market. Therefore, in this method, the stock value increases.
Although this plan has not been approved yet; But according to Musk, Tesla stock value It will increase soon. He also stated in this regard:
“Not long ago, I said in a meeting that I thought Tesla might be worth more than Apple, which was worth about $700 billion at the time.”
The value of Tesla Based on the current market, it is about 700 billion dollars. While the value of Apple is currently 2.3 trillion dollars and Saudi Aramco is about 2 trillion dollars. Now Musk has proposed a new target for Tesla’s valuation:
“Now I’m of the opinion that we can go far beyond Apple’s current market. “I see a path for Tesla to be worth more than Apple and Saudi Aramco combined.”
In the continuation of his speech, Musk also announced that Tesla plans to generate “significant liquidity” in the coming year due to the economic recession. Therefore, according to him, the repurchase of 5 to 10 billion dollars of shares by the company’s investors is the most logical way for the company’s stock value to rise and Tesla to surpass Apple.
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