Elon Musk, who is the CEO of Tesla, recently claimed again during Tesla’s Q3 earnings call that the company will one day be bigger than Apple’s current market.
Tesla announced its quarterly earnings. Although it did not meet his expectations for the third quarter of 2022, it did exceed the amount of revenue that he had predicted.
Elon Musk announced that the company’s board has a plan to buy back $5 billion to $10 billion in stock. However, the plan has not yet been finalized.
Musk announced that Tesla is now worth $700 billion. This figure is for May 2017. Apple was valued at $772 billion at the time, and Tesla was $51 billion behind. Apple is now worth $2.3 trillion, making it the most valuable company in the world.
Elon Musk believes that it is possible to go far beyond Apple’s current market. Even with a lot of perseverance, its value will be more than the sum of Apple and Saudi Aramco; This is an oil and natural gas company that has a value equivalent to 2 trillion dollars. In May, it topped the list of companies and surpassed Apple. As a result, it became the most valuable company in the world.
After Elon Musk announced his Tesla stock, his company’s earnings fell more than 5%. Tesla started the year at $399.93, and right now it’s not the least valuable, but it’s not far from worthless among all the big tech stocks.
Musk recently said he was going to buy Twitter, then backed off and the cycle continues. The new terms of the contract may be completed soon, but the chancellery court time is also approaching.