Ed Ludlow

Yeah, I mean, you know, I don't want to speak on his behalf, but Steve's point is echoed by many that either are bullish or bearish on Tesla.

They've put this in the shareholder deck.

It's in writing the explanation of what they plan to do, plus some timeline in it, plus the impact to top and bottom line that, you know, it's in there.

But Steve wrote in his January 12th research without putting him on the spot that 26 is the year that Tesla pivots to physical AI.

For many people, that is something that started in 2025.

But there is still an element with Tesla, right?

The stock's up less than 3% in after hours.

Elon Musk will likely say something on the call that will move the needle.

And it's about, you know, whether investors do or don't believe him.

The one little teaser that I will leave with you is there's a line on the deck that talks about deeper vertical integration.

And, you know, Donna Holt, you know, messaged me right away saying, did you see that?

What do you think that means?

Don't know.

But Elon's talked about all kinds of things, building its own chip fab.

Where does SpaceX factor into this?

One of the most voted up retail questions, because you know Tesla fields questions from retail investors is, will Tesla shareholders get priority access to a SpaceX IPO?

All of these things keep people looking to the horizon.

The stories are really straightforward.

Meta said that

revenue growth strong, and then they boosted the capex range for the year beyond consensus.