Cathie Wood shared that Tesla is her top storage pick. Under Steven Bartlett’s podcast “The Diary of A CEO”, the Ark Invest founded Tesla’s innovative edge and refers to its convergence of robotics, energy storage and AI.
“Because think about it. It’s a convergence among three of our big platforms. So robots, energy storage, AI,” Wood said of Tesla. She emphasized the company’s potential beyond its current offer, especially with its Optimus robots.
“And it doesn’t stop with Robotaxis; there’s a story beyond that with humanoid robots, and our $ 2,600 number has nothing for humanoid robots. We just thought it would be an investment,” she added.
In June 2024, Ark Invest issued a price target of $ 2,600 for Tesla, which Wood confirmed in a March Bloomberg interview and projected the stock to reach this level within five years. She told Bartlett that Tesla’s Optimus robots would drive productivity gains and create new revenue streams.
Elon Musk repeated Wood’s optimism in a CNBC interview last month.
“We expect to have thousands of Optimus robots working in Tesla factories by the end of this year, begins in the fall. And we expect to scale up the Optimus faster than any product, I think, in history to reach millions of units a year as soon as possible,” Musk said.
Tesla’s stock has been exposed to volatility recently and hit a highest $ 479 closure in December after President Donald Trump’s election gain. However, Musk’s commitment to the White House DODE office triggered protests and boycotts, which contributed to a fall of over 40% from midfield heights by March.
The volatility of the Tesla share alerted investors who encouraged Musk to focus on the company. In a May earnings call, Musk replied, saying he would “scale up his commitment with DOGE to focus on Tesla.” Throughout it all, Cathie Wood and Ark Invest maintained their belief in Tesla. Especially Wood predicted that “fire damage” Tesla experienced earlier this year would not be long -term.
Despite the recent fluctuations, Wood’s confidence in Tesla emphasizes its potential to redefine industries through AI and Robotics. When Musk shifts focus back to Tesla, the company’s progress in Optimus and other innovations could lead it against Wood’s ambitious $ 2,600 goals and place Tesla as leader in the evolving tech landscape.