Cathie Wood has shared her price targets on Tesla stock over the years. She famously predicted the surge in Tesla stock years ago, while others laughed at her bullish outlook. Read Also: Cathie Wood’s Ark Innovation, Genomic ETFs Celebrate 10 Years: How Annual Returns Stack Up Against S&P 500 Why It’s Important: The new price target is based on several factors, with the majority of the price target coming from Tesla’s robotaxi ambitions. “ARK estimates that nearly 90% of Tesla’s enterprise value and earnings will be attributed to the robotaxi business in 2029,” the new open-source model reads. Aside from the new price targets in the thousands of dollars, Ark also lists a price target of $350 for Tesla if it eliminates the robotaxi network from the model, stressing the importance of this future catalyst. The new price target forecast model breaks down Tesla’s 2029 revenue as being 63% from robotaxis and 26% from electric vehicles, with the rest coming from items like insurance and energy storage. Ark Invest estimates that Tesla could have revenue of $1.2 trillion in 2029 and EBITDA of $440 billion. The prediction assumes that Tesla will sell 5.8 million electric vehicles in 2029. “Tesla plans to unveil its dedicated robotaxi vehicle in August 2024. While Tesla could transform its current fleet into robotaxis, we believe a custom-built CyberCab reflects increased confidence that its autonomy software will allow Tesla to scale the robotaxi business.” The new Ark Invest price target does not include any impact from the Tesla Semi, Tesla Supercharging network, FSD licensing or AI-As-A-Service. The price model includes minimal results from the Optimus bot. “(Tesla’s) business model should transform from one-off vehicle sales to a recurring revenue base as every car becomes an AI-powered cash flow generation machine.” Wood’s new price targets would take Tesla to a market capitalization of between $7 trillion and $10.9 trillion and the title of the world’s most valuable company. Tesla CEO Elon Musk recently highlighted the potential value of the robotaxi business and Optimus bot as being the catalysts that could make Tesla the most valuable company in the world and worth north of $30 trillion. Many laughed at Wood when she made her bullish $4,000 price prediction. Years later, the stock was north of that level on a price adjusted value. Wood continues to bet heavily on Tesla with the Ark Innovation ETF ARKK