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Tesla’s Disappointing Deliveries and Apple’s Quarterly Dip | Bloomberg Technology
Caroline Hyde and Ed Ludlow break down Tesla’s deliveries numbers falling short of expectations while Rivian beats production estimates. Apple posted one of its worst quarters relative to the S&P in over a decade. The outlook for technology stocks after these events is discussed along with the pulse of the IPO market, including Microsoft-backed rubric’s IPO filing.
Title: Tesla’s Drop in Deliveries and Apple’s Quarterly Decline
Tesla underperformed, with deliveries falling far below projections. Rivian exceeded production estimates. Apple’s recent quarter was poor compared to the S&P. Tech stocks’ future after these events, and IPO market pulse, are explored. Microsoft-backed rubric filed for an IPO.
Tesla’s Troubles: A Dim Outlook for Deliveries
– Tesla disappoints with deliveries far below expectations
– Stock down around 5% with pre-market drop as high as 7%
– Factors affecting Tesla’s deliveries include supply chain disruptions and production issues
– Stock down around 5% with pre-market drop as high as 7%
– Rivian outperforms projections with production estimates exceeding expectations
– Tesla’s drop in deliveries is the biggest miss against Bloomberg consensus on record
– Production impacted by various factors, including Red Sea situation, production pause in Berlin, and model refresh in Fremont
The Growing Competition in the EV Market
– Tesla faces increasing competition from Chinese makers like Byd and Xiaomi
– EV market expected to see a 15% year-over-year growth this quarter
– Tesla anticipates just a 3.2% year-over-year growth
– Competition drives Tesla to offer competitive features and pricing
– Tesla’s future relies on new products and meeting market demand
– Rivian’s unveiling of the R2 model sparks interest and competition in EV market
Policy Support for EV and Hybrid Adoption
– Gas hybrids expected to see increased sales due to ease of use and similar driving experience to ICE vehicles
– US incentives like the $7,500 EV tax credit drive EV adoption
– Consumers need more education on EVs and related incentives for greater adoption
– Plug-in hybrids provide a pathway to full electrification for consumers
Hot Take: Challenges and Opportunities in the Tech and Venture Capital Landscape
As the tech world faces disruptions and challenges, opportunities for growth and innovation emerge. From Tesla’s delivery woes to Apple’s quarterly decline, the tech industry is in a state of flux. Venture capital firms like Atomico are navigating this landscape by backing innovative startups in areas like telehealth and AI. As the market shifts, staying agile and focused on long-term value creation is key for investors and entrepreneurs alike.
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