Tesla shares have something in common with Bitcoin, namely, high volatility. Shares of the e-car manufacturer are prone to quicksilver changes in market quotes in contrast to some steady stocks. According to a recent forecast, Tesla shares could zoom up by 60% to $400 apiece. Interestingly, the company’s shares used to jump to a greater extent. Nevertheless, the prediction promises a stunning rally.
At present, Tesla shares are trading at about $250 apiece. Analysts at Morgan Stanley are bullish about the prospects of the electric car maker. Morgan Stanley raised its 12-18-month target on Tesla's shares to $400. Besides, the investment bank upgraded the company’s rating to “overweight” from “equal weight”. The change in the rating gave fresh impetus to the market price of Tesla shares. Morgan Staley improved its outlook on the back of development and introduction of artificial intelligence in manufacturing. Tesla designed and is still fine-tuning the supercomputer, Dojo. Tesla started production of Dojo in July to train AI models for self-driving cars. The novelty could propel a near $500 billion surge in Tesla’s market value by helping speed up its foray into robotaxis and software services.
"If Dojo can help make cars 'see' and 'react,' what other markets could open up? Think of any device at the edge with a camera that makes real-time decisions based on its visual field,” Morgan Stanley analysts commented on their forecasts. Experts reckon that Tesla “needs to address challenges related to data collection, processing power, speed, efficiency, and scalability. Dojo is designed to meet these challenges.”