Tesla (TSLA) CEO Elon Musk said, “We’ve dug our own grave on the Cybertruck” in the EV maker’s third-quarter earnings call on Wednesday, alluding to the long journey of getting the Cybertruck to market amid such high demand. This pessimistic statement was further compounded by Tesla’s third-quarter earnings miss, reporting a 7.6% total operating margin — down significantly from 17.2% year-over-year.
Tom Narayan, RBC Capital Markets Lead Equity Analyst of Global Autos, joins Yahoo Finance to discuss how he remains optimistic on Tesla and why he thinks the company should pivot to a tier-1 supplier.
“I believe in robotaxis, they are the future, they will transform society for the better, regulators want it,” Narayan says. “I also believe it will expand the pie for autos tremendously, it will take share from other forms of transportation…”
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