Stocks · News reference
Elon Musk announced that Tesla has set a production target of 5 million vehicles annually by 2030.
Reference Details
Poisar stores the source's headline, summary and market tags for reference. Reporting and full article text remain with the original publisher.
Keep reading
Tesla's stock dipped despite beating earnings, as the market focuses on its pivot to AI and robotics rather than EV sales. Meta surged on AI assistant success with 26% revenue growth, while IBM stabilized mainframe demand. The broader AI sector faces headwinds with chip stocks down 15% in three weeks. Corning targets $355 per share on strong data center demand, and three companies report earnings today.
Tesla says Megapacks are nearly sold out through 2027 as energy margins surge, driven by data-center demand and expanding production.
IBM beat Q3 earnings expectations with $17.1B revenue and $2.95 EPS, initially surging 7.3% in after-hours trading. However, the stock reversed sharply during the earnings call when CEO Arvind Krishna warned that corporate customers are concerned about uncontrolled AI spending with unclear returns, causing a 4.6% after-hours decline and triggering broader AI sector selloff.