In a bold restatement of his ambitious predictions, Elon Musk has once again asserted that Tesla holds the potential to surpass the combined market capitalization of tech giant Apple and energy behemoth Saudi Aramco. Musk emphasized that achieving such a feat is contingent upon Tesla's impeccable execution of its strategies over the next five years.
As of now, Apple boasts a staggering market cap of $2.99 trillion, and Saudi Aramco holds a formidable position with a market cap of $2.13 trillion. Tesla, with its highest market cap reaching $1.23 trillion in November 2021, is aiming to propel itself into an unprecedented league.
I stand by my prediction that, if Tesla executes extremely well over the next 5 years, that the long term value could exceed Apple and Aramco combined
— Elon Musk (@elonmusk) December 30, 2023
During the Q3 2022 earnings call, Musk outlined the challenging but plausible path towards Tesla becoming more valuable than Apple and Saudi Aramco combined. Musk remarked, "I see a potential path with Tesla worth more than Apple and Saudi Aramco combined. So now that doesn’t mean it will happen or that will be easy. In fact, I think it will be very difficult. It will require a lot of work, some very creative new products, manage expansion, and always luck. But for the first time, I see a way for Tesla to be, let’s say, roughly twice the value of Saudi Aramco."
Responding to TSLA bulls advocating that Tesla is undervalued, Musk stood firm in his optimism. He emphasized that, given exceptional execution, Tesla's long-term value could indeed exceed the combined value of Apple and Saudi Aramco within the next five years.
“I stand by my prediction that, if Tesla executes extremely well over the next 5 years, that the long term value could exceed Apple and Aramco combined,” Musk affirmed.
However, Musk was quick to highlight the importance of exceptional performance, making it clear that this ambitious goal would not materialize without diligent effort. In a post on social media platform X, he stated, “exceptional execution is needed for this. It will not happen ‘by itself.'”
As I say though, exceptional execution is needed for this. It will *not* happen “by itself”.
— Elon Musk (@elonmusk) December 30, 2023
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