People still value $Tesla Motors(TSLA)$ like a traditional automaker and then wonder why the valuation seems high. It trades around ~200x forward earnings, compared to roughly ~8x for F. The market isn't just pricing in EV sales; it's pricing the potential of future businesses beyond cars.
The real debate centers on ROBOTAXI, FSD, and OPTIMUS. The question isn't whether Tesla sells vehicles. It's whether these future opportunities can become meaningful businesses and justify the premium.
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