Tesla's Q4 Earnings Call: Our Top 5 Analyst Questions

Tesla’s Q4 results were shaped by shifting demand patterns and significant operational changes, as management pointed to a surge in U.S. vehicle purchases in the prior quarter and increased international deliveries, especially in smaller markets like Malaysia and Poland, as key factors. CFO Vaibhav Taneja attributed steady automotive margins to a favorable regional mix and highlighted growing adoption of Tesla’s Full Self-Driving (FSD) software, noting, “FSD adoption continued to improve in the quarter, reaching nearly 1,100,000 paid customers globally.” Management also flagged sustained strength in the energy segment, with record deployments and continued demand for MegaPack and Powerwall products.

Is now the time to buy TSLA? Find out in our full research report (it’s free for active Edge members).

While we enjoy listening to the management's commentary, our favorite part of earnings calls are the analyst questions. Those are unscripted and can often highlight topics that management teams would rather avoid or topics where the answer is complicated. Here is what has caught our attention.

Our Top 5 Analyst Questions From Tesla’s Q4 Earnings Call

• Emmanuel Rosner (Wolfe Research) asked about the sustainability and funding of Tesla’s over $20 billion CapEx, with CFO Vaibhav Taneja explaining investments target new factories, AI infrastructure, and that internal cash plus potential financing will support this phase.
• Andrew (Morgan Stanley) inquired about the strategic collaboration with xAI and how the Grok AI model will be integrated at Tesla. Taneja stated this partnership will help optimize fleet management, while Elon Musk noted shareholder interest in the investment.
• Dan Levi (Barclays) questioned near-term memory chip supply constraints. Musk asserted Tesla’s AI models are highly memory efficient, giving the company a buffer for three years, but stressed the need for domestic chip fabrication longer-term.
• George Gianarikas (Canaccord) probed Tesla’s competitive advantages in humanoid robotics as Chinese startups increase activity. Musk emphasized Tesla's edge in hand design, AI, and manufacturing, but acknowledged China as formidable competition.
• Colin Langan (Oppenheimer) sought clarity on R&D strategy and synergies across hardware components. Musk and Taneja underscored the necessity of in-house development for batteries, chips, and robotics to address future geopolitical and supply risks.

Catalysts in Upcoming Quarters

In the coming quarters, the StockStory team will monitor (1) the pace of robotaxi and CyberCab deployment across new cities, (2) Tesla’s ability to resolve battery and chip supply constraints as it ramps production, and (3) execution on multi-billion dollar CapEx projects, including new factories and AI infrastructure. Progress on the transition to FSD subscriptions and expansion in energy storage deployments will also be key indicators of strategic execution.

Tesla currently trades at $419.17, down from $431.46 just before the earnings. At this price, is it a buy or sell? Find out in our full research report (it’s free).

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