Larry Ramer
1 min read
In This Article:
Robotics are not yet included in Tesla, Inc. (NASDAQ:TSLA)'s valuation and "some" people compare the firm to pre-iTunes Apple Inc. (NASDAQ:AAPL) for that reason, Dave Nicholson, the Chief Research Officer of tech research firm The Futurum Group told Schwab Network recently.
Nicholson added that investors should not own TSLA stock unless they believe that "it's an AI company."
Advanced robots are likely to be utilized by many households within the next five to ten years, the researcher said, suggesting that Tesla, Inc. (NASDAQ:TSLA) can get a big boost from the latter development.
He added that "very little of Tesla's current valuation has to do with cars." Instead, the company is "a software platform, first and foremost," Nicholson believes.
In terms of vehicles, the automaker's primary competitors are the Chinese EV makers, he asserted. But in AI, the company is facing competition from the large U.S.-based tech firms, including Nvidia Corporation (NASDAQ:NVDA) and Apple, the researcher stated.
While we acknowledge the potential of TSLA as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than TSLA and that has 100x upside potential, check out our report about this cheapest AI stock.
READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.
Disclosure: None. This article is originally published at Insider Monkey.
