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Wedbush Optimistic On Tesla (TSLA) As ‘Actually Smart Summon’ Arrives In China

Tesla has just received a price target boost from Wedbush Securities. The research firm has upgraded its base case price to $515 while boosting its bull case price target to $650, a 47.7% upside from here on.

Tesla Inc. is famous for sparking a revolution in the EV industry. While it was recently overtaken by China’s BYD as the world’s largest EV maker, the company continues to be a powerhouse in the EV industry. Its stock almost always trades at an expensive premium and for good reason. Being one of the first companies to launch Electric Vehicles and doing it successfully at scale, other companies are unlikely to catch up, which justifies the premium it trades at.

Tesla also sits on enormous amounts of data that it receives from Tesla cars driving around the globe every day. Thanks to the recent emergence of AI, people realize the importance of this data. If there is any company that can crack Full Self Driving, it is Tesla. No other company can generate similar amounts of data at the scale that Tesla does, which gives it a headstart that should ensure its lead in autonomous driving in the coming years.

Tesla’s revenue from EV sales is stabilizing but the company continues to be a growth play thanks to its AI initiatives. This growth is what’s exciting investors and analysts. Tesla launched its ‘Actually Smart Summon’ technology in China this Friday. The tech allows users to summon their vehicles to their GPS location, or any other point of their choosing. The vehicle uses Tesla Vision technology to then drive itself to the target area.

The feature is an improvement on the Smart Summon launched in 2019. Due to frequent errors, that version received a bad reputation. The Actually Smart Summon was promised in 2022 and even though it’s still not available in the US, a launch in China means the US launch can’t be far away. Since it is an FSD feature, it also means full autonomy is one step closer, hence all the excitement.

The main difference between Tesla’s Smart Summon and Actually Smart Summon is that the latter uses cameras instead of the ultrasonic sensors that Smart Summon utilizes. Tesla’s future plans include the first versions of its unsupervised FSD in California and Texas next year. Robotaxi is expected to come by 2026. The future is exciting for Tesla, no wonder the stock has nearly doubled in just over a month! Like Wedbush, we are also bullish on the stock.

Tesla ranks 23rd on our latest list of the 31 Most Popular Stocks Among Hedge Funds. As per our database, 99 hedge fund portfolios held TSLA at the end of the third quarter which was 85 in the previous quarter. While we acknowledge the potential of TSLA as a leading investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as TSLA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: $30 Trillion Opportunity: 15 Best Humanoid Robot Stocks to Buy According to Morgan Stanley and Jim Cramer Says NVIDIA ‘Has Become A Wasteland’.

Disclosure: None. This article was originally published at Insider Monkey.

AI Fire Sale: Insider Monkey’s #1 AI Stock Pick Is On A Steep Discount

Artificial intelligence is the greatest investment opportunity of our lifetime. The time to invest in groundbreaking AI is now, and this stock is a steal!

The whispers are turning into roars.

Artificial intelligence isn’t science fiction anymore.

It’s the revolution reshaping every industry on the planet.

From driverless cars to medical breakthroughs, AI is on the cusp of a global explosion, and savvy investors stand to reap the rewards.

Here’s why this is the prime moment to jump on the AI bandwagon:

Exponential Growth on the Horizon: Forget linear growth – AI is poised for a hockey stick trajectory.

Imagine every sector, from healthcare to finance, infused with superhuman intelligence.

We’re talking disease prediction, hyper-personalized marketing, and automated logistics that streamline everything.

This isn’t a maybe – it’s an inevitability.

Early investors will be the ones positioned to ride the wave of this technological tsunami.

Ground Floor Opportunity: Remember the early days of the internet?

Those who saw the potential of tech giants back then are sitting pretty today.

AI is at a similar inflection point.

We’re not talking about established players – we’re talking about nimble startups with groundbreaking ideas and the potential to become the next Google or Amazon.

This is your chance to get in before the rockets take off!

Disruption is the New Name of the Game: Let’s face it, complacency breeds stagnation.

AI is the ultimate disruptor, and it’s shaking the foundations of traditional industries.

The companies that embrace AI will thrive, while the dinosaurs clinging to outdated methods will be left in the dust.

As an investor, you want to be on the side of the winners, and AI is the winning ticket.

The Talent Pool is Overflowing: The world’s brightest minds are flocking to AI.

From computer scientists to mathematicians, the next generation of innovators is pouring its energy into this field.

This influx of talent guarantees a constant stream of groundbreaking ideas and rapid advancements.

By investing in AI, you’re essentially backing the future.

The future is powered by artificial intelligence, and the time to invest is NOW.

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Dive into the AI gold rush and watch your portfolio soar alongside the brightest minds of our generation.

This isn’t just about making money – it’s about being part of the future.

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The AI revolution is upon us, and savvy investors stand to make a fortune.

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Our research team has identified a hidden gem – an AI company with cutting-edge technology, massive potential, and a current stock price that screams opportunity.

This company boasts the most advanced technology in the AI sector, putting them leagues ahead of competitors.

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This is the #1 Gold Stock for your 2025 watch list

Brace yourself.

There’s no question that thanks to Washington’s disastrous policies – and out-of-control spending – the outlook for the U.S. economy now appears dire.

And with the U.S. national debt now rising by a staggering $1 trillion every 100 days…there are no easy solutions to help get the nation back on track.

While Jay Powell and the Biden-Harris White House sweat out a federal debt that has reached $35.5 trillion – and climbing – many investors have raced to the sidelines with their cash.

But the truly savvy investors laugh while Jay Powell frets, because they understand that this ridiculous spending has also triggered a nearly unprecedented bull market for gold.

Just look at this chart for the yellow metal.

After testing the $2,000/ounce mark in August 2020 and February 2022, gold traded down to near $1,600/ounce in October 2022.

Since then, gold prices have been on an absolute tear and currently sit above $2,600/ounce, a $1,000/oz increase in just two short years.

But the surge in gold prices that we’ve seen over the past few years could pale in comparison to what’s on the horizon. As shocking as it may sound, with no end in sight for the Fed’s money printing, we could see the price of gold increase by many multiples in the years ahead.

With soaring inflation, the dollar stands to lose more and more of its value, which means you’ll need a lot more dollars to buy gold.

According to legendary investor Peter Schiff, today’s seemingly-high gold price of $2,600/oz. “could soar to $26,000/oz. — or even $100,000/oz. There’s no limit because gold isn’t changing — it’s the value of the dollar that’s decreasing.”[i]

Meanwhile, as profitable as gold has been, select gold mining stocks have really kicked into high gear, handing investors even bigger profits.

Click to continue reading…