This week in tech: Analysts sweet on Nvidia; Tesla cuts prices again
and the stock gained on management optimism across several areas, including AI.
The stock took a hit on the soft revenue guidance until management talked up the company's future prospects across several areas, including AI. BofA and KeyBanc highlighted the company's solid execution and innovation, but BofA sees"additional risk to estimates" given a"diminishing backlog contribution" that would necessitate a"significant order recovery throughout F24, which might not materialize." And KeyBanc is staying neutral until it sees"more consistent signs of share gains and improved visibility into F2H24 order growth ramp.
And two days later, it lowered the price of its Model X sport utility vehicles and Model S sedans in inventory by as much as CNY 70,000 , a statement on the company's WeChat account read. Evercore ISI analysts predicted in a research note that comparable targeted price reductions might be seen in the U.S. and Europe.
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