{"id":129027,"date":"2022-10-20T00:04:05","date_gmt":"2022-10-20T00:04:05","guid":{"rendered":"https:\/\/appleinsider.com\/articles\/22\/10\/20\/elon-musk-again-claims-one-day-tesla-will-get-bigger-than-apple-is-today?utm_medium=rss"},"modified":"2022-10-20T00:04:05","modified_gmt":"2022-10-20T00:04:05","slug":"elon-musk-again-claims-one-day-tesla-will-get-bigger-than-apple-is-today","status":"publish","type":"post","link":"https:\/\/sickgaming.net\/blog\/2022\/10\/20\/elon-musk-again-claims-one-day-tesla-will-get-bigger-than-apple-is-today\/","title":{"rendered":"Elon Musk again claims one day Tesla will get bigger than Apple is today"},"content":{"rendered":"
\n

Credit: Tesla<\/p>\n

<\/a> <\/div>\n

\n

AppleInsider may earn an affiliate commission on purchases made through links on our site. <\/em> <\/p>\n<\/div>\n

During Tesla’s third-quarter earnings call, CEO Elon Musk is re-upping previous claims that the company could at some point “far exceed Apple’s current market cap.” <\/p>\n

\n

Tesla announced quarterly earnings after the bell on Wednesday. While Tesla didn’t meet its revenue expectations for Q3 2022, it did beat its own earnings expectations.\n<\/p>\n<\/div>\n

\n

After the results were released<\/a>, Musk announced that the company’s board discussed a share buyback program of between $5 to $10 billion. However, the plan hasn’t been finalized yet.\n<\/p>\n<\/div>\n

\n

Musk also discussed Tesla’s valuation \u2014 which currently sits at $700 billion. <\/p>\n<\/div>\n

\n

“A while ago,” Musk said on Wednesday, “I said on an earnings call that I thought it was possible for Tesla to be worth more than Apple, which was worth $700 billion at the time.” <\/p>\n<\/div>\n

\n

A “while ago” refers to May 2017. Apple was worth $772 billion when the remark was made, and Tesla trailed at $51 billion. Apple is now valued at $2.3 trillion and is currently considered the most valuable company in the world.<\/a>\n<\/p>\n<\/div>\n

\n

“Now I’m of the opinion that we can far exceed Apple’s current market cap,” he continued. “I see a path for Tesla to be worth more than Apple and Saudi Aramco combined.”\n<\/p>\n<\/div>\n

\n

Saudi Aramco, a petroleum and natural gas company, has a current value of $2 trillion. In May, the company briefly surpassed<\/a> Apple as the most valuable company in the world.\n<\/p>\n<\/div>\n

\n

Tesla’s stock is down more than 5% after Wednesday’s earnings call. It started the year at $399.93 and is not presently at the year-low, but isn’t far away from it, amidst a large tech stock contraction.\n<\/p>\n<\/div>\n

\n

Musk has most recently been in the financial and tech news for his on-again, off-again Twitter deal<\/a>. At present, it appears that the new terms of the deal may be completed soon \u2014 but a chancery court deadline for the package is approaching.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Credit: Tesla AppleInsider may earn an affiliate commission on purchases made through links on our site. During Tesla’s third-quarter earnings call, CEO Elon Musk is re-upping previous claims that the company could at some point “far exceed Apple’s current market cap.” Tesla announced quarterly earnings after the bell on Wednesday. While Tesla didn’t meet its […]<\/p>\n","protected":false},"author":2,"featured_media":129028,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[57],"tags":[],"class_list":["post-129027","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-apple-insider"],"_links":{"self":[{"href":"https:\/\/sickgaming.net\/blog\/wp-json\/wp\/v2\/posts\/129027","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sickgaming.net\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sickgaming.net\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sickgaming.net\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/sickgaming.net\/blog\/wp-json\/wp\/v2\/comments?post=129027"}],"version-history":[{"count":0,"href":"https:\/\/sickgaming.net\/blog\/wp-json\/wp\/v2\/posts\/129027\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sickgaming.net\/blog\/wp-json\/wp\/v2\/media\/129028"}],"wp:attachment":[{"href":"https:\/\/sickgaming.net\/blog\/wp-json\/wp\/v2\/media?parent=129027"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sickgaming.net\/blog\/wp-json\/wp\/v2\/categories?post=129027"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sickgaming.net\/blog\/wp-json\/wp\/v2\/tags?post=129027"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}