-- Elon Musk is known to challenge the status quo — and that’s exactly what Tesla Inc.’s investors are worried about right now.The company’s shares are weathering the longest rout since late 2022, tumbling nearly 19% over the past seven days, amid doubts about its business strategy as sales of electric vehicles slump.
Musk has already said that the company will be unveiling its so-called Robotaxi in August but hasn’t clarified the plans for the cheaper vehicle. It is possible that Tesla is only going to delay the production of the less-expensive car, rather than shelve it outright. On the flip side, the negative sentiment has set a relatively low bar, creating the potential for a relief rebound.
“The earnings are so crucial,” said Sosnick. “If we get a profound disappointment, then $100 is a likely next stop.”Apple Inc.’s iPhone sales in China fell 19% during the March quarter, according to data from Counterpoint Research that marked the device’s worst performance there since Covid struck around 2020. The US firm dropped to third in the market, roughly on par with Huawei Technologies Co.
ASML Holding NV is weighing options to expand its presence in the Netherlands, after the government committed €2.5 billion to infrastructure and education spending in the region where the company’s headquarters are located.A Hedge Fund Billionaire’s Cash Helped Fund a ‘Predatory’ LenderBuy-and-hold stocks are easy enough to find if you limit yourself to dividends, but there are at least a few Canadian stocks you can hold virtually forever for their growth potential.
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