Reports of Tesla vehicles spontaneously catching fire could make customers wary of EVs just as the industry ramps up production plans.Autosread more
Amazon's large and flashy investments stand out from those of its tech peers over the past year.Technologyread more
SoftBank founder Masayoshi Son speaks in futuristic terms about his company, but the success of his late-stage VC fund is still unknown.Technologyread more
Consumer IPOs from Snap to Uber have been disappointing and serve as a reminder that private investors are making all the money.Technologyread more
China's currency has been an important barometer for progress in U.S.-Chinese trade talks, and right now it's signaling things aren't going well.Market Insiderread more
The 2019 PGA Championship wraps up on Sunday, May 19. Here's how much money the champion will earn.Earnread more
The move comes after star runner Alysia Montaño's May 12 op-ed in the New York Times in which she detailed her experiences with Nike.Business Newsread more
While the prolonged fight has been devastating to an already-struggling agriculture industry, there's little indication Trump is paying a political price.Traderead more
The outrage has even inspired a Change.org petition called "Remake Game of Thrones Season 8 with competent writers," with over half-a-million signatories and climbing.Entertainmentread more
The company's comments Friday come after the White House said U.S.Trade Representative Robert Lighthizer will "address the threatened impairment" of national security from...Autosread more
Tesla's electric car sales will suffer due to increased competition from German automakers, according to J.P. Morgan.
"Tesla has, to date, faced relatively little competition in the market for luxury electric vehicles, and so we think shoppers have been willing to cut the automaker some slack when it comes to some aspects of service and build quality," analyst Ryan Brinkman wrote in a note to clients Friday. "When similarly priced high-end long-range electric vehicles become available from prestigious brands with strong reputations for both service and build quality, we believe this could represent a meaningful headwind for Tesla."
Tesla's stock closed down 3.3 percent Friday.
The analyst said Daimler, the owner of Mercedes-Benz, has said it will launch 10 battery-powered electric vehicles by 2022. He also noted Audi's electric vehicle pipeline.
"We met with Audi, which appeared the most aggressive over the near-term, targeting the debut of a 310 mile range (95 kWh battery pack) 'e-tron' vehicle sized between a Q5 and a Q7, with an €80,000 price tag (nearly ~$100K)," he wrote. "These range, size, and price configurations seem designed to go toe-to-toe with the Tesla Model X."
Brinkman reaffirmed his $185 price target on Tesla shares, representing 38 percent downside from Thursday's close.
Tesla did not immediately respond to a request for comment.
The company is slated to report its first-quarter earnings results on May 2, according to its website.