Tesla shares closed at $342.27 on August 14, 2026, up 4.2% over the prior week, as record China and global deliveries, an ended Swedish strike, and an expanding robotaxi footprint lifted sentiment. A Q2 profit miss and negative free cash flow are keeping the stock down 23.9% year to date.
Tesla shares closed at $342.27 on August 14, 2026, up 4.2% over the prior week, even though the stock remains down 23.9% year to date.
The company's market cap stands near $1.4 trillion, with a trailing P/E of 311 and an average analyst price target of $395.34.
China deliveries hit a record
Shanghai wholesale sales reached 93,579 vehicles in July 2026, up 37.85% year over year, a ninth consecutive month of growth and the best July on record. Year to date, China wholesale sales hit 561,528 units, about 29.88% higher than the same period last year, and Q2 exports of 128,394 vehicles exceeded domestic deliveries of 126,157 for the first time.
Globally, Q2 2026 deliveries reached 480,126, a second-quarter record up about 25% year over year and past the 402,776 consensus, led by a European rebound, according to Reuters. Morningstar analyst Seth Goldstein, who had modeled a third straight annual decline, said afterward it now looks very hard to see a decline for the full year.
Sweden dispute ends, robotaxi footprint grows
Swedish union IF Metall ended its nearly three-year strike against Tesla on August 13, 2026, saying the action no longer had any effect after Tesla bought out its striking members, and shares rose on the news.
Autonomous ride-hailing has also expanded into Orlando and Tampa alongside Austin, Dallas, Houston and Miami, with Cybercab production expected to ramp later this year. According to Tesla: "we have driven more than 380,000 miles of unsupervised Robotaxi" on its July earnings call, and Musk said the mileage was growing more than 10% a week.
Wall Street backs the AI story
UBS raised its Tesla price target to $442 from $364, citing potential value from Optimus, Full Self-Driving and the Dojo computing platform. Active FSD subscriptions reached 1.48 million in Q2, up 56% year over year, with attach rates above 55% on new North American deliveries.
Profit margins complicate the rally
Q2 adjusted EPS came in at $0.33, a 38.51% miss versus the $0.5367 consensus, even as revenue of $28.24 billion beat estimates by 7.10% and grew 25.52% year over year. Free cash flow turned negative at $1.09 billion as capital spending surged 141.81% to $5.79 billion and operating margin compressed to 1.4%.
Freedom Broker analyst Dmitriy Pozdnyakov estimated that U.S. sales likely fell at least 10% in the quarter after the EV tax credit expired. The bull case built on deliveries and the AI story remains credible, but the near-term earnings math still hasn't closed the gap.
Source: 24/7 Wall St.
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