Tesla’s new products to demonstrate ‘Muskonomy’ overlap, say Morgan Stanley

Morgan Stanley keeps an Overweight rating and $310 price target on Tesla ahead of its “We, Robot” event on October 10th. Over 80% of Tesla’s FY24 revenues are derived from their Automotive activities, but as Tesla’s CEO makes further progress on building out its inference swarm and AI/compute infrastructure, including xAI, investors will see a clearer picture of the overlapping “surface area” between Tesla and other parts of the Muskonomy, particularly the evolving relationship between xAI and Tesla, the analyst tells investors in a research note.