“In the end, Tesla’s Investor Day was more hogwash than anything. The company is certainly making progress on some of its goals, but investors wanted to hear more specific details about upcoming products, a possible buyback, etc. the after-hours session. Given the lack of key details, I wouldn’t be surprised if there are more sales in the near term until Tesla opens things up a bit,” said Bill Maurer, an analyst at Seeking Alpha.
The company’s plan to use 75% less silicon carbide in vehicles without compromising car performance or efficiency also weighed on the actions of semiconductor maker and supplier STMicroelectronics.
The reduction plan was “bad news for the entire silicon carbide production chain and for STMicro in particular,” brokerage Equita said. She estimates that Tesla accounted for 70% of STMicro’s 2022 semiconductor sales.
With information from Reuters.
