Wedbush Analysts Project Potential Doubling of Tesla's Market Capitalization Following Robotaxi Launch

Wedbush analysts, led by Dan Ives, have projected that Tesla's market capitalization, currently just over $1 trillion, could potentially double by the end of 2026, contingent upon the success of its upcoming robotaxi launch. The analysts have maintained an 'outperform' rating and a $500 price target for Tesla's stock. They suggest that advancements in Full Self-Driving technology and the expansion of autonomous services, such as the Cybercab in the U.S., could significantly contribute to this valuation increase. Tesla CEO Elon Musk has indicated a tentative launch date of June 22 for the robotaxi program in Austin, Texas. Invitations have reportedly been sent to selected Tesla users, granting them access to the Model Y Robotaxi service starting Sunday. The initial phase is expected to involve 10 to 20 Model Y vehicles operating autonomously within a designated area of Austin. Tesla plans to gradually expand this service to additional vehicles and cities, and aims to introduce the Cybercab—a vehicle without a steering wheel or pedals—next year. Concurrently, Tesla announced an agreement to build its first grid-scale battery power plant in China. Some analysts are focusing on the robotaxi launch, while others express concern that recent public disagreements between Musk and President Donald Trump could affect regulatory processes. Additionally, a group of Texas lawmakers has requested that Tesla delay the robotaxi launch until new autonomous vehicle regulations take effect in September. Tesla's stock has recently risen to approximately $324, recovering from earlier declines.