A "Sneaky" Bull Case for Tesla's Operating Performance?

There is perhaps hardly any stock out there which bamboozle most value investors more than Tesla. Given Tesla’s eye-watering multiple, I have seen people often mentioning Mag7 multiples, excluding Tesla. Even if I look at consensus EPS estimates in 2029, the stock currently trades at ~55x of 2029 EPS. So, clearly Tesla bulls must believe consensus is off the mark significantly from the future they envision for the company.

Indeed, I have recently thought about a "sneaky" bull case for Tesla’s operating performance that is likely not embedded in consensus estimates. I will expand on my thoughts behind the paywall.

In addition to “Daily Dose” (yes, DAILY) like this, MBI Deep Dives publishes one Deep Dive on a publicly listed company every month. You can find all the 66 Deep Dives here