Tesla (TSLA) delivered 358,023 vehicles in Q1, missing estimates and causing a 5.42% drop in shares, but maintains a $600 price target for future upside.

Tesla (TSLA) reported vehicle deliveries of 358,023 in Q1, falling short of Wall Street's estimate of 370,000 and resulting in a 5.42% decline in shares. This marks the second consecutive quarter of missed expectations for the company. Analyst Dan Ives from Wedbush maintained a $600 price target on TSLA, indicating a potential upside of over 65% despite soft EV demand and regulatory challenges in Europe. In addition, Tesla deployed 8.8 GWh of energy storage, below the expected 14.4 GWh, and plans to invest $20 billion in AI and robotics initiatives.

Tesla (TSLA) Q1 Deliveries Miss Estimates at 358,023 Vehicles

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