Shares closed up more than 12% at $1,025 on Monday, boosted by two places of good news: Hertz announced a record order of 100,000 Teslas for its fleet, and influential Morgan Stanley Auto analyst Adam Jonas recently said Raised its price target on Tesla to $1,200. A part.
he put huge one day profit Tesla (TSLA)
over the $1 trillion mark. That’s less than half the market capitalization Apple (AAPL)
, the world’s most valuable company at $2.5 trillion, and No. 2 Microsoft (msft)
, which is worth $2.3 trillion. Other members of the trillion-dollar club include Google parents Alphabet (GOOG)
, worth $1.8 trillion, and heroine (AMZN)
, at $1.7 trillion.
Tesla is the second fastest company to reach the $1 trillion mark, just 12 years after its 2010 initial public offering. In college Facebook (American Plan)
, which needed only 9 years to reach $1 trillion from its IPO, got there fast.
Apple took the longest time, more than 37 years after starting business in 1980, followed by Microsoft at a little over 33 years. Amazon needed 21 years, while Google reached this stage for the first time after 15 years. It’s not uncommon for companies to reach the $1 trillion benchmark to slip below it.
Tesla overtook Facebook on Monday, whose shares are sliding following the release of a large trove of internal documents known as “The Facebook Papers”.
Facebook (American Plan)
Shares closed down more than 5% in Friday’s trading, and an even modest rebound on Monday was down more than 17% from earlier this year, when the company was valued at more than $1 trillion. . Facebook’s market cap closed at $927 billion on Monday.
– Advertisement –
For Tesla, by contrast, Wall Street’s enthusiasm about the future of electric vehicles has pushed the company’s market value to more than the 11 largest global automakers combined.
Tesla has more than tripled the price Toyota (tm)
, the second most valuable automaker with a market cap of about $280 billion, and boasts sales and profits that dwarf those of Tesla.
Last year Tesla only sold 500,000 cars worldwide – meaning its current market value is roughly $2 million per vehicle sold.
The company has sold 627,000 cars so far this year, and is aiming to be close to one million sales for the full year. That would still equate to a valuation of more than $1 million per vehicle, but clearly investors are still betting that Tesla will hit its goal of 50% or more in annual sales growth in the coming years.