Cybercab floods social media, Berlin factory hits record output! Behind the buzz around Tesla, Inc. (TSLA.US), Phillip still sees 38% downside

Tesla, Inc. (TSLA.US) rose nearly 1% in premarket trading on Monday after a flurry of Cybercab appearances around the Austin F1 circuit, a production milestone at its Berlin factory, and new Roadster details surfacing. However, Phillip Securities remains bearish on its valuation. Tesla, Inc. closed down 0.6% at $372.22 on Friday but gained 5% for the week, its strongest weekly performance since late August. Cybercabs "surround" Austin F1 as robotaxi fleet expands rapidly Tesla, Inc.'s autonomous driving ambitions were on full display around the Circuit of the Americas in Austin last Sunday. Photos from the scene showed long lines of golden Cybercabs and Model Y robotaxis near the venue. Ashok Elluswamy, Tesla, Inc.'s head of AI software, said on X: "Robotaxis as far as the eye can see!" Sawyer Merritt, a Tesla, Inc. investor and influencer, said more than 50 Cybercabs were picking up and dropping off passengers by midday. Community tracker Cybercab Spotter recorded 1,250 Cybercab sightings in Austin on Saturday, of which 1,159 (about 93%) were classified as driverless. Robotaxi Radar said both total sightings and driverless sightings set new records. Tesla, Inc. last week expanded its Austin service boundary to the circuit and extended ride-hailing request hours to 1 a.m., while imposing restrictions on nearby drop-offs during late-night hours. CEO Musk said on a recent earnings call: "It's hard to overstate this. Autonomous miles are indeed growing extremely fast week over week. For example, the Cybercab fleet in Austin has grown 10x since launch about a month ago." Tesla, Inc. began offering paid Cybercab rides in Austin on September 3 and said it had more than 300 vehicles serving the city as of October 10. The company aims to achieve 24/7 robotaxi service and complete its first customer deliveries by year-end, but expects most Cybercabs to remain owned by Tesla, Inc. The expansion comes as Tesla, Inc. faces a Friday deadline to answer U.S. safety regulators' questions about certification of the Cybercab, which lacks a steering wheel and pedals. Berlin factory pushes output as new Roadster details reveal trim differences Meanwhile, Berlin factory manager Andre Thierig said the plant set a new record of 7,000 Model Y vehicles produced in a week while running around the clock over the weekend, still 500 units short of its 7,500-per-week target. "Producing 7,000 cars in a week is hard work for the entire team! We will keep improving from here. The mission is not yet complete!" Thierig said on X. Tesla, Inc. plans to apply in December for approval to build a second production hall of about 536,000 square meters. The capacity push comes as Musk says demand is outpacing supply, partly driven by Full Self-Driving (FSD) adoption. "Demand for our vehicles is growing rapidly and has significantly exceeded our production," he said on the earnings call. Tesla, Inc. also said it has its largest passenger vehicle backlog in four years, with battery supply constraining production. Tesla, Inc. Roadster news materials circulating on X revealed key differences between the entry-level Performance trim and the higher-end Thrust and Rocket versions. The Performance trim lacks cold-gas thrusters, gold-tinted windows, and the "Supersonic" interior offered on higher trims. The low-temperature-protection Ano White paint is exclusive to the Rocket version. "All vehicle assets on the product page are of the Thrust or Rocket versions," the document said, indicating that Tesla, Inc.'s online images do not show the base version. The materials contain contradictory descriptions of the doors: guidance states the Performance version should not be described as having butterfly doors, while a comparison table lists two-fold doors with removable roof panels as standard on all three versions. The Rocket version is equipped with 10 thrusters for acceleration, lift, and yaw control, while the Thrust version has 4 rear thrusters. Tesla, Inc. claims the Rocket version can accelerate from 0 to 60 mph in 0.59 seconds. Tesla, Inc. has not announced pricing. Reserving the Performance version requires a $50,000 payment, the Thrust version $250,000, and the Rocket version is invitation-only. Phillip Securities raises target price but keeps "Sell"; retail sentiment turns bearish Phillip Securities raised its Tesla, Inc. target price to $230 from $220 on Friday but maintained its "Sell" rating, implying about 38% downside from the current share price. The firm said higher spending offset margin improvement. Tesla, Inc.'s operating expenses rose 39% year over year, and its operating margin fell to 2.6% from 5.8%. Third-quarter adjusted earnings per share were $0.48, above the market expectation of $0.45; revenue was $28.05 billion, flat year over year. Free cash flow totaled $1.53 billion, and active FSD subscriptions reached 1.74 million. On Stocktwits, with message volume at "high" levels, Tesla, Inc.'s retail sentiment shifted to "bearish" from "bullish" a week earlier. One user said: "$TSLA the self-driving party is over. A public class action is coming, and the Autopilot cases are still moving forward." Another user said: "$TSLA still at $370 and rising every week surprises me! The earnings were terrible." Year to date, Tesla, Inc. shares have underperformed their "Magnificent Seven" peers, down about 17% and the worst performer in the group.