Tesla shares rare glimpse of Giga Shanghai, posts bullish teaser for Model Y L deliveries

As Tesla prepares to report its third-quarter earnings, a prominent analyst is urging investors to look beyond the company’s delivery numbers. Gene Munster of Deepwater Asset Management believes that the narrative surrounding Tesla’s earnings is shifting, with the focus moving away from traditional metrics and towards the company’s emerging technologies.

Tesla’s delivery figures for the third quarter, which were revealed earlier, reached a record high of 497,099. However, Munster attributes this success to customers rushing to purchase vehicles before the $7,500 tax credit expired. He predicts that delivery numbers will decline in subsequent quarters, but argues that this is not a cause for concern.

“Numbers are going down next year, but that’s okay because it’s all about autonomy,” Munster said, highlighting the growing importance of Tesla’s autonomous driving technologies.

Munster is not alone in his assessment. Tesla has been making significant strides in its autonomous driving projects, including the development of a dedicated Robotaxi platform. The company has already launched Robotaxi services in Texas and California and has received regulatory approvals to test driverless Robotaxis in Arizona and Nevada.

While Robotaxi is a significant opportunity for Tesla, Munster believes that the company’s Full Self-Driving (Supervised) suite is equally crucial. The latest FSD software has been rolled out to more owners, providing Tesla with valuable data to refine its performance.

As Tesla reports its earnings, Munster is encouraging investors to focus on the company’s broader vision and emerging technologies, rather than traditional metrics like delivery numbers. With earnings being reported at market close tomorrow, investors will be watching closely to see how Tesla’s strategy plays out.