Tesla (TSLA) Stock Forecast 2023: Coinspeaker Advent Calendar

In tandem with other market trends, TSLA is down by over 58% Year-to-Date as tech stocks received a beating across the board.

Dear readers, the chilly winds of Winter are finally upon us and as the holiday season beckons, it is imperative to look forward to what the future holds. In today’s episode of Coinspeaker Advent Calendar, we will be looking at Tesla Inc (NASDAQ: TSLA), one of the most iconic electric automakers in the world today. Is Tesla stock a good buy for 2023? How well will the stock grow over the next 12 months? What are the fundamentals and growth potentials of this company? Let’s find out about these and many more in this article.

Tesla in the EV World and Substrates for Growth

The majority of advanced economies today are pushing for sustainability in climate change-related initiatives. Of the many avenues to achieve this agenda, the switch to electric vehicles comes off as the most time-feasible option and many car manufacturing outfits are pushing on this frontier.

Among the lot, Tesla comes off as the biggest player to date as measured by the total number of electric vehicles delivered globally per quarter. Data from EV-Volumes.com shows that Tesla remains the top EV manufacturer in the total Battery Electric Vehicles (BEVs) sold in the first half of 2022 with its delivery topping 550,000.

Taking the lead in the EV sector at this time is a testament to the enormous investment in Research and Development for the EV giant, one that is poised to start materializing in full over the next decade.

Demand for the BEVs being produced by Tesla is growing as the company is considered the most desirable option in terms of performance and durability. While the competition has continued to grow, Tesla has continued to innovate and is constantly diversifying its operations such that it can geographically spread its areas of production to key regions.

From the Gigafactory in Shanghai to serve China, the largest EV market after the United States, to the Berlin plant to cater to its customers in the United Kingdom and the European Economic Area (EEA) has shown that Tesla is preparing to meet future demands.

Besides the fundamental model to reach more people across different regions, Tesla is also pivoting toward Full Self-Driving (FSD) technology, a tech it has been innovating in for a while now. The company’s model is such that besides the use of the FSD application in its own cars, it will also make it available for use with other competitors also, steering a higher revenue in the long term.

So How Is Tesla Billed to Perform in 2023

A lot has been said about Tesla with respect to its role in the EV world of today as well as in its innovation strides to beat its top competitors.

In tandem with other market trends, TSLA is down by over 58% Year-to-Date as tech stocks received a beating across the board. Drawing on the average Tesla price predictions over the next 12 months, the top 5 investment firms shared their price targets as shown below:

RBC Capital – $225
Goldman Sachs – $235
Deutsche Bank – $355
Morgan Stanley – $330
Citigroup – $176

That Deutsche Bank and Morgan Stanley are bullish on the stock is explainable per the earlier reasons amongst others that have been given. However, the bearish forecast given by Citi stems from erratic trends seen with CEO Elon Musk whom many people believe his consistent share sales and distraction with Twitter may not let govern the firm properly in the near term.

Nonetheless, we believe as a reader of this Advent Calendar Series, you should have enough information to start off with your own research should you make the decision to invest in the stock.

Stay tuned as we bring you another interesting episode tomorrow!

Work It

Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.