This figure is 76% higher than Tesla’s market value of about $789 billion, based on Friday’s close of $248.5.
Jonas expects Dojo to generate the greatest value in software and services.
Morgan Stanley raised its revenue estimate for Tesla’s grid services business to $335 billion in 2040, up from $157 billion previously.
Jonas expects the unit to account for more than 60% of Tesla’s core revenue in 2040, almost double what it was in 2030.
“This increase is largely driven by the emerging opportunity we see in third-party fleet licensing, increasing ARPU (average monthly revenue per user).”
Tesla’s 12-month forward price/earnings ratio of 5.7.99 is much higher than that of automakers Ford, at 6.31, and General Motors, at 4.56, according to LSEG data.