AI predicts TSLA stock price for end of 2024 as Tesla awaits Chinese FSD approval
- by Finbold | Finance in Bold
- Oct 18, 2024
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AI predicts Tesla stock price
Considering the size and significance of the Chinese market, any delay in the FSD rollout could impact investor interest. Therefore, to determine how TSLA might trade in the wake of these developments from China, Finbold consulted OpenAI’s ChatGPT-4o.
According to the AI platform, the regulatory hurdle in China could affect TSLA both in the short and long term. As the regulatory review continues, Tesla could remain in the $210 to $240 range, reflecting cautious optimism.
However, if the Texas-based firm demonstrates significant progress towards approval (e.g., successful trials in Chinese cities), the stock could reach $250 to $270 in the medium term, according to ChatGPT-4o.
Longer-term success would depend heavily on regulatory clearance, partnerships with local Chinese firms, and actual FSD deployment, potentially driving the stock significantly higher.
Conversely, delays or government pushback could pressure the stock downward, possibly below $200.
Tesla stock price prediction. Source: ChatGPT-4o
FSD facing concerns in the United States
On the other hand, as Tesla seeks approval in China, the company is facing hurdles in the United States. This follows revelations that authorities are investigating a series of crashes—one of them fatal—involving cars equipped with FSD technology.
To this end, Tesla needs to reassure investors that the technology is viable for the long term since it remains one of the critical fundamentals for the company heading into 2025. Notably, the EV giant will showcase FSD capabilities in current models, such as the Model 3 and Model Y, in 2025.
To this end, analysts maintain that FSD’s success in these models will signal what to expect from the Cybercab.
The company also received criticism at the ‘We, Robot’ event, where it showcased its advancements in autonomous driving. Some analysts expressed disappointment with the event, noting that it did not meet expectations as Elon Musk failed to provide a clear road map for the technology.
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