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Tesla solar energy systems reportedly ignited at an Amazon warehouse in Redlands, California last June, and the Seattle e-commerce titan confirmed that it has no further plans...Technologyread more
Entrepreneur Amish Shah is bullish on Tesla for a few different reasons. Electric cars are the way of the future, he says, and he is looking forward to the company's battery news to come later this month. Shah is also impressed with its marketing strategy of having retail stores in malls.
"I think they are more of a technology company that is into auto that is revolutionizing everything," he said on CNBC's "Closing Bell " on Monday. "One day we will be talking about Elon Musk as the next Steve Jobs. "
Shah is the managing partner of venture capital firm, SierraMaya360, and is bullish on Tesla's stock and in the company's ability to continue to do well in the electric car market.
Karl Brauer, a Kelley Blue Book senior analyst, is not as confident. "Even if it gets the production and sales numbers it's looking for this year, it's looking at a lot of competition in this segment in the next two years, " he said.
Tesla's stock got a boost on Monday after the company released quarterly delivery numbers last week that showed a beat on vehicle deliveries for the first quarter. But Brauer noted that the company, which has been around for more than 10 years, has yet to post a profit.
"They've got to go up against some big players that are experts in this field, namely the traditional automakers who are going to start jumping into this electric car market very soon and they are going to have all the background and experience and retailing systems," he said.
He did say that pre-owned Teslas are able to hold their value because "so far right now there is enough demand versus supply."
"I'm not 100 percent sure that Tesla is going to work as a business model. It's a niche product and he's [Musk] got to get mainstream and sell volume," Brauer added.
Brad Erickson, Pacific Crest research analyst, is also bullish on Tesla and said "the fact that they brought out this upside in their increasing transparency from last Friday morning, that's generally a good thing. "
Disclosures: None of these analysts owns shares of Tesla. Tesla is not a client of SierraMaya360, Kelley Blue Book or Pacific Crest.