TSLA 是一个长期看涨的标的；由于庞大的潜在市场（120万亿美元）、建设护城河以及机构在散户抛售之际持续吸筹，目前仍处于“非常早期”阶段。
逐段跳播
向 Sha D、Cipher Sniper、K8 和 TD Tesla 致敬。整个团队都到齐了。
Shout out to Sha D and Cipher Sniper and K8 and TD Tesla. The whole gang is here.
所以，举个例子，Tesla 在 IPO 之后很长一段时间都是横盘。然后它垂直拉升，之后又横盘了很长一段时间，而它还会再次垂直拉升。所以，我们得到了第二次咬苹果的机会。
So, for example, Tesla post IPO was flat for a long time. Then it went vertical and it's been flat for a long time again and it's going to go vertical again. So, we're getting a second bite at the Apple.
而事实上，据称现在有一支 Tesla 的团队正在中国当地，为 Optimus 人形机器人的供应链做最后的审批工作。
And in fact, there's allegedly a team of Tesla folks right now on the ground in China doing the final approvals for the supply chain for the Optimus human robot.
然后是早期。这是另一个有点意思的标的，因为我认为我们又一次处在早期，而我已经投资 Tesla 超过十年了。但如果你也看几件事，Tesla 正在追逐的 TAM 是极其庞大的。人形机器人、robot taxi、cyber cab、软件服务、SAS 收入、电动汽车、AI 算力、储能，所有这些都是巨大的。
它们是这个星球上最大的 TAM。把 Tesla 今天所有的 TAM 加起来，是 120 万亿美元，基本上相当于全球 GDP 的规模。我知道这说不通，但这就是 S 曲线。这就是指数性。
而他们拥有的是护城河。他们拥有垂直整合，而且他们处在所有顶级的 S 曲线之中。
Then early. This is another one which is kind of interesting because I would argue we're early again and I have been investing in Tesla for over a decade. But if you look at a couple of things as well, the Tesla TAM they're going after is monstrous.
Okay, humanoid robots, robot taxi, cyber cabs, software services, SAS revenue, electric vehicles, AI compute, energy storage, all these things are massive. They're the biggest TAMs on the planet.
You add up all the TAMs for Tesla today, it's $120 trillion, which is basically the size of global GDP. I know it doesn't make any sense, but that's what an S-curve is. That's exponentiality.
And what they have is the moat. They've got the vertical integration and they're in all the top S curves.
Tesla 超级工厂、锂工厂等等。
Tesla gigafactories, lithium factories, etc.
另一个很好的护城河例证是这个。这来自我几个月前做的一次演示。它展示的是 Tesla 正在进行的全部建设。这张图胜过千言万语，不，是百万言。同样，要同时在世界各地把所有这些正在进行的建设都竞争掉是不可能的。
从上海到柏林，到得克萨斯各地，到纽约，你能想到的地方，到锂精炼厂，到超级工厂，其中三座。一座 terafab 即将到来。这太疯狂了。没有人能够追上这种级别的建设或施工。没有人。
没有人。而这就是为什么我们处在早期，非常早期，这也同样令人害怕。
Another great mode illustration is this. This is from a presentation I gave a few months ago. It was all the building that Tesla is doing. This picture tells a million words, not a thousand.
Again, it's impossible to compete away all of this construction that's happening all over the world all at the same time. From Shanghai to Berlin to all over Texas to New York, you name it, to you know, lithium refineries to mega factories, three of them.
A terafab is coming. Uh it is insane. Nobody will be able to catch this level of building or construction. Nobody. Nobody. And that's why we're early, very early, which is also scary.
这是典型的 Tesla，典型的 SpaceX，典型的 Palunteer，典型的被最憎恨的资产。但要去熟悉未来的增长以及未来业务线的盈利能力。比如 FSD 收入，纯利润率，纯利润。
而现在他们卖出的车中有 55% 是连同 FSD 一起卖出的。
This is classic Tesla, classic SpaceX, classic Palunteer, classic mosthated assets. But get familiar with the future growth and the profitability of the future lines of business.
FSD revenue, for example, pure margin, pure profit. And now 55% of cars that they sell is [clears throat] sold alongside FSD.
举个例子，今年所有散户都卖掉了 Tesla，而大资金进来了。这说明了谁是对的。大资金是对的。
For example, all the retail investors sold Tesla this year and the big money came in. That shows you who's right. The big money is right.
这个频道对 $TSLA 的历次判断
InvestAnswers 在这只股票上共 14 条判断，这里只列相邻的几条。