Tesla analysts from Global Equities Research are expecting the electric vehicle maker to see a demand recovery starting August 2023. The firm also expects previously laid-off tech workers to find new jobs amidst the rise of AI.
In a rather interesting connection, the analysts noted that the demand for Tesla vehicles could partly be a function of tech layoffs. The analysts stated that the majority of tech layoffs would likely be completed by July.
The Global Equities Research analysts noted that hackers who have lost their jobs are now reinventing themselves in the AI field. Thanks to their experience and expertise, they are reportedly receiving multiple job offers. And while the hackers are reportedly getting offers that are about a 5-10% haircut to their prior tech jobs before they were laid off, they are planning on large purchases once they start working again, as noted in an Investing.com report.
The analysts actually asked some of the hackers what large purchases they were planning once they get their new job. As it turned out, the top answer to the question is “Will buy a Tesla.”
The hackers’ answers are very interesting, though they are also not much of a surprise. Teslas are arguably the best vehicles that a person with a serious tech background could buy in the market today, after all. They are also filled to the brim with active and passive safety features. Add the fact that cars like the Model Y are actually among the world’s best-selling vehicles, and one will probably not be surprised that the all-electric crossover is a popular choice for hackers returning to the workplace.
Tesla is expected to release its Q2 2023 vehicle delivery and production report this coming weekend. Wall Street expects Tesla to post deliveries of about 445,000 vehicles, as per analyst estimates compiled by FactSet. Estimates compiled by Bloomberg suggest that Tesla will be delivering around 448,000 vehicles in the second quarter. Tesla’s company-wide consensus, which includes 27 analysts covering the company, is listed at 446,823 units for Q2 2023.
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Keyword: Analysts see a Tesla as first big purchase planned by previously laid-off tech workers