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Why Tesla Will Be No. 1 Big Tech Stock In Next 5 Years

By Mark Kolakowski | Updated November 2, 2017

Ignore the current bout of pessimism surrounding electric carmaker Tesla Inc,
says venture capitalist Gene Munster, formerly a respected technology sector analyst for 21 years at Piper Jaffray, and now at Loup Ventures. Despite a higher than expected loss in its latest quarterly report, and production delays surrounding its new Model 3, Munster makes the bold prediction that Tesla will be "the best performing large cap tech stock in the next five years," in an interview with CNBC.

Munster's View

Those problems have pushed Tesla's stock down by more than 20 percent from its June high, including a decline approaching 8 percent in early afternoon trading on Thursday.

So it's safe to say that Tesla founder and CEO Elon Musk is feeling the heat. He's keeping virtually an around-the-clock vigil at the Model 3 assembly plant, personally supervising efforts to get production on track, Fortune reports. Meanwhile, Munster is confident that Musk will deliver on his promises, with production of 5,000 Model 3 cars per week reached in the first quarter of 2018. He projects that Tesla will become profitable in the third quarter of 2020. Around that time, he adds, driverless cars should be gaining traction, and he expects Tesla to assume a leading position in this technology. Moreover, in the 2020 to 2030 time frame, Munster expects that Tesla will reach another of Musk's goals, becoming a major global player in renewable energy such as solar power.
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Read more: Why Tesla Will Be No. 1 Big Tech Stock In Next 5 Years | Investopedia http://www.investopedia.com/news/tes...#ixzz4xPBHxAUM

https://www.benzinga.com/analyst-rat...rded-after-a-l

A Decided Leader

While assured by Tesla’s energy opportunities, Munster is no less optimistic about the firm’s auto prospects. In fact, he predicts Tesla to be one of three to five automakers dominating the industry in 10 years, as its electric vehicle and autonomy projects are considered to be unrivaled.

“Putting it all together, we believe the Tesla story represents the biggest opportunity in tech over the next five years,” Munster said.