Tesla Is on Track to Beat Apple, Elon Musk Says
Oct 20, 2022
People in business often claim that Elon Musk never gets boring. Tesla's quirky and charming CEO has entirely rewritten all business practice guides.
He has upended habits and buried traditions. Musk is one-of-a-kind and plans to remain such. He established his norms, which sometimes even regulators must observe. He's used to making striking comments that dazzle his millions of Twitter friends and followers.
Musk is likewise concerned about his public image. He desires ownership of the Musk brand. One of the primary aspects of this image is that the billionaire wishes to promote the concept that he is one of, if not the, greatest inventors of our time.
In light of this, we must comprehend his antipathy against Apple, the Cupertino, California-based corporate behemoth. Musk has long desired to compete with Apple for the title of the most groundbreaking brand of the contemporary era.
"Oh my God, I've heard good things about Apple goods. There seems to be nothing to look forward to now. Right!" Tesla's main designer, Franz von Holzhausen, stated in February. "It appears to be a continuation. It's merely a minor improvement on the same thing, "He stated. "In terms of inspiration, it's been difficult to become extremely inspired by what they're doing."
Musk and his associates never ceased saying that, aside from the iPhone, Apple hadn't developed anything in years. As if that wasn't enough, he also declared Saudi oil giant Saudi Aramco Tesla's major challenger in the quest to become the world's most valuable business, despite the fact that Apple's iPhone and iPad maker now holds that title.
"Tesla has the potential to be the most valuable business ever," Musk stated on Twitter on May 25. "When Tesla's market valuation, which manufactures sustainable energy products, exceeds that of Aramco, which manufactures fossil fuels, you know the future is bright for Earth."
Tesla Is Worth $4.5 Trillion, Right?
The tech magnate has now taken a new step in his war with Apple. He now thinks that Tesla has the potential to become the world's most valuable corporation, with a market value more than Apple and Saudi Aramco combined.
This means that Tesla, which is presently valued at roughly $700 billion, will skyrocket to at least $4.5 trillion.
"Several years ago, I stated I felt Tesla might be worth more than Apple, which was then the highest cap [capitalization] firm on the market at the time," Musk said during Tesla's third-quarter results call on October 19. "I stated that extraordinary executions [and] at least some luck were necessary. And we had no intention of doing it."
But he went on: "Now I believe we can significantly outperform Apple's present market cap. In fact, I anticipate a future when we [Tesla] are valued more than Apple and Saudi Aramco combined."
"That doesn't imply it will happen or be simple. In reality, I believe it will be quite tough and time-consuming. Madness expansion, some extremely interesting new things."
"For the first time," Musk remarked, "I envision a possibility for Tesla to be nearly double the value of Saudi Aramco. I'm seeing that possibility for the first time."
What To Wait For
He said that his projection was based on the portfolio of current items as well as the ones in the pipeline.
Tesla now manufactures cars like Model S and Model 3, SUV/crossovers Model X and Model Y, and solar panels. In addition, the firm creates its own batteries.
In the next two years, a semi-truck will be added, with deliveries beginning on December 1, 2022, a Cybertruck in mid-2023, and the debut of a fleet of robotaxis in 2024.
The business also intends to launch Optimus, a humanoid robot, in 2023, while Full Self-Driving (FSD), its driving assistance system, is expected to produce significant income in the following months.
However, the firm has several challenges: competitors in the automobile sector are multiplying and acquiring market share. Supply networks are disrupted, and raw material costs remain high.
Furthermore, Tesla must complete all of these initiatives flawlessly. History, particularly the Model 3 manufacturing, has demonstrated that this is not always simple.
Finally, Musk assumes that Apple and Saudi Aramco will be content with their existing positions.
According to companiesmarketcap.com, Microsoft is third with a market worth of $1.76 trillion, followed by Alphabet at $1.3 trillion and Amazon at $1.2 trillion.
Tesla is the world's sixth-largest corporation.