12 Best FAANG+ Stocks to Invest in Right Now

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7. Tesla Inc. (NASDAQ:TSLA)

Number of hedge funds: 99

Our next pick Tesla Inc. (NASDAQ:TSLA) is not a Technology company in a stricter sense. But its exposure to electric vehicle (EV) tech, autonomous driving and AI makes it nothing less than a tech play. The company is an EV manufacturer and clean energy company known for its innovative approach to sustainable transportation and energy solutions. It designs, manufactures, and sells electric vehicles, battery energy storage systems, solar products, and related services. It currently manufactures five different consumer vehicles: the Model 3, Y, S, X, and the Cybertruck. Tesla Inc. (NASDAQ:TSLA) benefits from the alignment of global goals with its mission of accelerating the world’s transition to sustainable energy. Its market cap currently stands at $1.3 trillion, a phenomenal 9x growth from $139 billion five years ago. At a recent conference call, CEO Elon Musk predicted that, with the help of autonomous vehicles and humanoid robots, Tesla has the potential to become the most valuable company in the world, surpassing the combined value of the next top five companies.

In January 2025, Tesla Inc. (NASDAQ:TSLA) reported its Q4 2024 results, with vehicle deliveries of around 500,000 in the quarter, contributing to a total of approximately 1.8 million deliveries for the year 2024. Tesla continues to benefit from increasing demand for electric vehicles and advancements in battery technology. The company is currently focusing on reducing costs and improving margins through vertical integration, including in-house battery production. Additionally, the company’s software capabilities, such as Full Self-Driving (FSD) technology, are expected to enhance vehicle value and customer experience. Recently, the CEO confirmed that unsupervised FSD is planned for release in California in 2025, with potential releases in China and Europe by year-end.

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