"Tesla has been doing absolutely fantastic and it's beat earnings expectations the last five quarters," Shay said during the same interview. "I think this is Tesla's opportunity to prove to everyone that the retail traders aren't wrong on this one, and if we do get a great beat from Tesla, I really think that it could lead to a pretty strong momentum move."
Shay targets $1,000 for Tesla shares — an 18% gain from the current level. Tesla was one of the hottest stocks in 2020, rallying more than 1,100% since its March bottom. "However, if this doesn't come through, and we end up seeing Tesla pull back, in that instance it will just be a great buying opportunity," said Shay.
Analysts expect Tesla to have earned $1.04 cents a share in its December quarter, more than double a year earlier. Sales are expected to have grown 43%.