TSLA stock probably won’t benefit much from the hype surrounding AI, but there are other reasons for Tesla’s investors to stay in the trade. Speaking of buzz, it seems like everybody and their uncle is hyped up about machine learning nowadays. Due to the popularity of OpenAI’s ChatGPT chatbot, many investors are eager to buy practically anything with an AI connection.
However, Morgan Stanley analyst Adam Jonas is reluctant to categorize Tesla stock as an AI stock. Although it may be “tempting to speak in platitudes about Tesla’s AI chops,” Jonas explains, the direction of the automaker’s stock “will be dominated by the supply and demand of electric cars over the next 12 months” (as paraphrased by Bloomberg).
The post Is Tesla Stock a Buy, Sell or Hold? Here’s My Call. first appeared on InvestorPlace.