After losing roughly 50% of its stock value in 2022, Tesla (NASDAQ: TSLA) has reignited investors’ interest this year following its robust recovery driven by a number of factors, including a series of aggressive price cuts, improving macroeconomic conditions, and the broader market rebound.
With many investors still keen on the world’s largest electric vehicle (EV) maker, predicting Tesla’s future stock price remains the subject of high speculation and debate.
In that light, Finbold decided to leverage the powerful artificial intelligence (AI) tool, ChatGPT, asking it to offer potential insights into TSLA’s price by the end of 2023 and what are the key factors that could affect it.
What did ChatGPT say?
While the impressive chatbot did not provide a specific price prediction on Tesla’s stock price, it listed the most important points that could make an impact in the coming months.
Those include Tesla’s past performance in the stock market, the potential influence of its CEO Elon Musk, shifting market sentiment, and the company’s financial performance.
Regarding past performance, ChatGPT said Tesla’s “historical volatility and financial performance can impact investor sentiment” and its possible price movements. The carmaker’s latest quarterly report was very close to Wall Street estimates, with earnings matching expectations, while revenue growth was slightly ahead.
Another factor that investors should keep an eye on, according to the chatbot, is the global demand for EVs as Tesla’s position as a market leader could “influence investor sentiment and potentially drive the stock price.”
Other AI predictions on Tesla
Last week, Finbold also tapped Alphabet’s rival AI language model, Google Bard, to forecast TSLA’s potential share price for the end of 2023.
Google’s AI bot was more specific, estimating that Tesla’s shares will “trade between $200 and $300 per share by the end of the year.” Bard said its prediction is based on Tesla being “well-positioned to continue to grow its sales and earnings” while risks to its share price remain “manageable.”
Meanwhile, the estimates offered by CoinPriceForecast, the finance prediction platform that utilizes machine self-learning technology, were significantly more bullish. The platform expects TSLA’s price to hit $365 by the end of 2023, implying a strong upside of 65% compared to current price levels, according to data retrieved by Finbold.
Tesla stock price analysis
Shares of Tesla Inc. rose Thursday for the 10th straight session and closed at their highest price since October, as data out of China showed that the electric-vehicle giant sold more cars in May than the previous month. That marks its longest winning streak since an 11-session run that ended in January 2021.
Tesla shares shined again in morning trading as GM will joined Tesla's EV charging network in step closer to US industry standard.
Over the past week and month, the carmaker’s stock gained 10.6% and 35%, respectively.
Year-to-date, TSLA saw a significant rebound, rising more than 90% since the start of 2023.
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