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Tesla Shares Decline Prior to Releasing Latest Earnings Report"

Shares in Tesla, Inc. (NASDAQ: TSLA) fell in early U.S. trading on Wednesday ahead of the company's quarterly results release.


Analysts at Morgan Stanley and JPMorgan have lowered their price targets for the stock due to concerns about Tesla's recent decision to decrease the prices of some of its cars in an effort to boost customer demand in an uncertain market environment marked by elevated interest rates and fierce competition.

Wall Street analysts expect Tesla to post a record profit for the final quarter of 2022, however, concerns remain over flagging vehicle delivery growth. Deliveries are expected to increase by around 46% in 2023 to 1.9 million, which would be under Tesla's annual goal of 50% growth. The company aims to expand sales to 20 million annually by 2030, making it the world's largest carmaker. Attention will also turn to the future of CEO Elon Musk at the company, as some shareholders have expressed concern that he is not paying enough attention to the running of the firm since his $44 billion purchase of Twitter in October.



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