Wedbush Securities' Dan Ives believes Tesla has more room for price cuts in the short term.
"Their margin, it gives them so much more flexibility than other vendors to do these price cuts," Ives said."And I think that really continues to be the story here, especially as battery costs ultimately get reduced over the coming months and year."
The Wedbush analyst stated that even after the price cuts earlier this year, Tesla has much higher margins than the industry average, and that would allow it to cut prices even more if it wanted to. A long-time Tesla bull, Dan Ives said that demand appears very solid. He also downplayed the fact Tesla's stock price dropped a bit after the company released its Q1 2023 numbers, describing it as a knee-jerk sell after the stock almost doubled so far this year.
As for the company's annual growth target of 50 percent, Ives said Wall Street investors focus more on theMore stories on Tesla's price cuts
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