Tesla CEO Elon Musk hinting at drone production: Morgan Stanley

On Monday, September 30, 2024, Morgan Stanley analyst Adam Jonas predicts that Tesla CEO Elon Musk has been hinting at trying out drone production.

“Is it just me, or are you seeing more ‘breadcrumbs’ from Tesla’s CEO that could potentially connect Tesla with aviation? Tesla sits at the intersection of robotics and AI. Cars (81% of TSLA revenue…and falling) are just one expression,” wrote Jonas in a recent note.

Tesla Aviation? Morgan Stanley says yes, and it could be worth $1,000 per share

The Morgan Stanley analyst shares a few instances where Musk seems interested in diving into other modes of transport for Tesla. Jonas forecasts that Tesla’s shares could go up to $1,000 per stock if it considered drones and aircraft production.

Read Adam Jonas’ note below.

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Author: Maria Merano