Li Auto Stock (NASDAQ:LI), Trade Ideas

Li Auto

Li Auto is a leading Chinese NEV manufacturer that designs, develops, manufactures, and sells premium smart NEVs. The company started volume production of its first model Li One in November 2019. The model is a six-seater, large, premium plug-in electric SUV equipped with a range extension system and advanced smart vehicle solutions. It sold over 376,000 NEVs in 2023, accounting for about 4% of China's passenger new energy vehicle market. Beyond Li One, the company expands its product line, including both BEVs and PHEVs, to target a broader consumer base.

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UBS Group AG has upgraded China&#39;s stock market to Overweight, citing resilient earnings and state fund interventions. Other Asian markets downgraded.

UBS Upgrades China Stocks Amid &#39;Valuation Collapse&#39;: What Investors Need to Know

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Rivian, which incurs huge losses for each of the EV it makes, may have chosen volume over margin, going by a recent move it announced.

Rivian&#39;s Earth-Day Offer: Trade In Your Gas-Powered Car And Get Up To $5K Off On R1 EV

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Why Vaxxinity Shares Are Trading Lower By Around 55%? Here Are Other Stocks Moving In Monday&#39;s Mid-Day Session

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Crypto trader Kevin has shared his bullish outlook on Dogecoin&#8217;s (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) performance against Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), noting the cryptocurrency&#8217;s consolidation in the golden pocket and its position above all bull market up trending moving averages.
What Happened: On Tuesday, Kevin, formerly known as OG_Yomi On X, posted his analysis of the <a href="https://twitter.com/Kev_Capital_TA/status/1782950223863599319">#Dogecoin vs #BTC</a> chart. He observed that Dogecoin is currently consolidating in the golden pocket while sitting above all bull market up trending MA&#8217;s. He expressed optimism about Dogecoin&#8217;s potential to outperform Bitcoin if it can maintain its current position.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">If we take a close look at the <a href="https://twitter.com/hashtag/Dogecoin?src=hash&amp;ref_src=twsrc%5Etfw">#Dogecoin</a> vs <a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw">#BTC</a> chart we&#39;re currently consolidating in the golden pocket while sitting above all bull market up trending MA&#39;s. This is a very good sign if we can hold it in terms of seeing <a href="https://twitter.com/hashtag/DOGE?src=hash&amp;ref_src=twsrc%5Etfw">#DOGE</a> out performing BTC from here on out. Send this dog… <a href="https://t.co/Nvd2LBzETu">pic.twitter.com/Nvd2LBzETu</a>
&mdash; Kevin (@Kev_Capital_TA) <a href="https://twitter.com/Kev_Capital_TA/status/1782950223863599319?ref_src=twsrc%5Etfw">April 24, 2024</a></blockquote>
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See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38348301/bitcoin-halving-elon-musks-dogecoin-tweet-solanas-rise-and-more-this-week-in-cryptocurrenc?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitcoin Halving, Elon Musk&#8217;s Dogecoin Tweet, Solana&#8217;s Rise And More: This Week In Cryptocurrency</a>
Notably, Dogecoin has already outperformed Bitcoin in terms of year-to-date gains. The meme coin has given 82.8% gains so far in 2024, while Bitcoin has returned 57.5% in the same period.
Why It Matters: Kevin&#8217;s tweet comes in the wake of a recent Benzinga article in which Yomi shared his insights on Dogecoin&#8217;s <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38241856/dogecoins-road-to-the-golden-cross-crypto-analyst-shares-his-take-on-bull-market-milestone">anticipated Golden Cross</a>. Despite two consecutive red weeks causing a slight deviation, the cryptocurrency is still several weeks of upward price action away from achieving this bull market milestone.
Moreover, a pseudonymous cryptocurrency trader, Vapor, recently predicted that at <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38383807/trader-predicts-at-least-3-meme-coins-above-100b-market-cap-heres-which-coins-benzinga-fol">least three meme coins</a> will achieve a market cap above $100B, as noted in a Benzinga report. This growing prominence of meme coins in the digital asset space underscores Kevin&#8217;s bullish outlook on Dogecoin.
Price Action: At the time of writing, Dogecoin traded 1.9% higher at $0.16, while Bitcoin was down by 0.2% at $66,613.80, according to <a href="https://www.benzinga.com/pro/feature/newsfeed?gspk=bHVrZWphY29iaTUzNDg&amp;gsxid=tdEE0VrK8Jeg&amp;ref=lukejacobi5348">data from Benzinga Pro.</a>
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Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38387650/dogecoin-and-elon-musk-in-one-animation-but-this-trader-suggests-to-short-doge-at-0-18-to-?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Dogecoin And Elon Musk In One Animation But This Trader Suggests To Short DOGE At $0.18 To $0.20</a>
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Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

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Dogecoin Could Outperform Bitcoin Thanks To Consolidation In The Golden Pocket, Says Trader: 'This Is A Very Good Sign'

Tesla and SpaceX CEO&nbsp;Elon Musk&nbsp;has expressed his admiration for Japanese video games, citing them as untainted by &#8220;woke DEI lies.&#8221;
What Happened: On Tuesday, Musk took to&nbsp;X, formerly Twitter, and replied to meme shared by social media user who goes by the handle &#8220;Rothmus&#8221; on platform. He said,&nbsp;&#8220;Games from Japan are still&nbsp;good, because they don't ruin&nbsp;the art with woke DEI&nbsp;lies.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Games from Japan are still good, because they don't ruin the art with woke DEI lies
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1782827990185046382?ref_src=twsrc%5Etfw">April 23, 2024</a></blockquote>
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However, not everyone agreed with Musk&#8217;s statement. A user pointed out that Japanese developers have started self-censoring to cater to Western audiences. They also highlighted the issue of Western localizers rewriting game scripts to include &#8220;woke ideology&#8221; in Japanese games.
<a href="https://www.benzinga.com/news/22/05/27341015/elon-musk-endorses-this-recent-hit-video-game-as-most-beautiful-art-he-has-ever-seen">Musk&#8217;s appreciation for Japanese</a> video games is not new. In May 2022, he&nbsp;praised the hit video game &#8220;Elden Ring&#8221;&nbsp;as featuring the &#8220;most beautiful art&#8221; he had ever seen. Developed by Japanese studio FromSoftware, the game was released for all major gaming platforms.
Why It Matters: Musk&#8217;s recent comments on &#8220;woke DEI lies&#8221; are in line <a href="https://www.benzinga.com/news/24/01/36772215/elon-musk-calls-dei-extremely-anti-semitic-and-dangerous-in-conversation-with-ben-shapiro">with his previous criticisms</a> of diversity, equity, and inclusion or DEI initiatives. In January earlier this year, he&nbsp;branded the DEI agenda as &#8220;extremely anti-Semitic&#8221; and &#8220;dangerous&#8221;&nbsp;during an interview with&nbsp;Ben Shapiro. 
The tech billionaire has also been vocal about his opposition to DEI policies in the corporate world,&nbsp;accusing companies like Disney of <a href="https://www.benzinga.com/general/entertainment/24/02/36972002/elon-musk-charges-disney-with-institutionalized-racism-and-sexism-over-leaked-inclusion-sta">institutionalized racism and sexism</a>.
Despite the controversy surrounding his views, Musk&#8217;s influence in the gaming industry has been significant. His endorsement of &#8220;Elden Ring&#8221; in 2022 reportedly led to a surge in the game&#8217;s popularity and sales.
Photo courtesy: Shutterstock
Check out more of Benzinga's Future Of Consumer Tech by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link.</a>
Read Next:&nbsp;<a href="https://www.benzinga.com/news/24/04/38370806/elon-musk-calls-social-security-the-biggest-ponzi-scheme-ever-maybe-ai-and-robots-will-save-it?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Calls Social Security The Biggest Ponzi Scheme Ever: &#8216;Maybe AI And Robots Will Save It&#8217;</a>
This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

Gaming

Elon Musk Likes Games Originating From This Country Because Because They Have't Been Corrupted By 'Woke DEI Lies'

Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) has announced a timeline for the production of its electric semi-truck, with the first vehicles expected to roll out from a new factory by 2026.
What Happened: During the company&#8217;s first-quarter earnings call on Tuesday, Lars Moravy, Vice President of Vehicle Engineering, revealed the plans for the Tesla Semi.
Moravy stated that the engineering for the semi-truck is being finalized to enable high-volume production, drawing from the company&#8217;s fleet and pilot fleet experiences, including those with PepsiCo (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PEP#NASDAQ">PEP</a>). The construction of a factory in Reno has already commenced.
Moravy said that the first &#8220;external customers&#8221; are expected in 2026.
The Tesla Semi is a fully electric semi-truck with advanced safety features, a long range, and a spacious interior designed for maximum visibility.
See Also: <a href="https://www.benzinga.com/24/04/38349246/should-have-sold-our-entire-tsla-position-says-fund-manager-following-ev-giants-coordinated-global-p?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">&#8216;Should Have Sold Our Entire $TSLA Position,&#8217; Says Fund Manager, Following EV Giant&#8217;s Coordinated Global Price Cuts Over Weekend</a>
Why It Matters: The Tesla Semi has been making significant strides in recent times. In January, <a href="https://www.benzinga.com/news/24/01/36796670/pepsico-says-its-tesla-semi-surpassed-1-000-miles-in-single-day-haul">PepsiCo revealed</a> that its Tesla Semi had covered over 1,000 miles in a single day, demonstrating the truck&#8217;s capabilities and efficiency.
In April, Tesla&#8217;s Senior Manager of Semi truck engineering, Dan Priestley, endorsed the Environmental Protection Agency&#8217;s (EPA) stricter Phase-3 emission standards for <a href="https://www.benzinga.com/government/24/04/38039010/tesla-semi-ready-to-replace-diesel-trucks-says-unit-head-as-he-cheers-epas-tough-new-standards">heavy-duty vehicles</a>, asserting that the Tesla Semi is ready to replace diesel trucks.
Despite <a href="https://www.benzinga.com/news/earnings/24/04/38394792/tesla-stock-surges-despite-ugly-q1-results-heres-why">disappointing Q1 results</a>, Tesla&#8217;s stock surged after the company announced plans to accelerate the launch of new models. This includes the Tesla Semi, which is now set to enter production ahead of schedule.
Price Action: According to the data <a href="https://www.benzinga.com/pro/" target="_blank" rel="noreferrer noopener">from Benzinga Pro</a>, Tesla shares are currently priced at $144.61, reflecting a 1.80% increase from Tuesday's closing price. Notably, in after-hours trading, the stock surged by 13.38%. However, despite these fluctuations, Tesla's shares have experienced a year-to-date decline of 41.79%.
Image Via Shutterstock
Read Next: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38367087/tesla-q1-earnings-preview-is-ev-giant-no-longer-a-growth-stock-analysts-cautious-wa?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Tesla Q1 Earnings Preview: Is EV Giant No Longer A &#8216;Growth Stock?&#8217; Analysts Cautious, Want Answers About Robotaxis, Model 2</a>
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Tesla Unveils Timeline For Electric Semi-Truck Production, First Units To 'External Customers'  By 2026

At the close of Tuesday&#8217;s trading session, key U.S. stock indices showed gains, with the Dow Jones Industrial Average climbing 0.7% to reach 38,503.69, the S&amp;P 500 increasing by 1.2% to 5,070.55, and the Nasdaq also experiencing a rise of 1.6% to hit 15,969.64.
These are the top stocks that gained the attention of retail traders and investors through the day:
Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)
Tesla&#8217;s stock rose by 1.80%, closing at $144.61. The stock&#8217;s intraday high was $147.26, with a low of $141.11. The 52-week high and low are $299.29 and $138.80, respectively. The Elon Musk-led company reported first-quarter revenue of $21.0 billion, a 9% year-over-year decrease, <a href="https://www.benzinga.com/news/earnings/24/04/38390883/tesla-q1-earnings-highlights-ev-giant-misses-wall-street-estimates-makes-cost-cuts-invests-in-ai-sp">missing the Street consensus</a> estimate. 
Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>)
Meta Platforms saw a 2.92% increase, closing at $495.78. The intraday high and low were $498.76 and $488.97, respectively, with a 52-week range of $531.49 to $207.13. Analysts expect the company to report <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38387398/meta-platforms-q1-earnings-preview-marginally-cautious-ai-opportunity-could-prove-f">first-quarter revenue</a> of $36.16 billion. 
See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38376705/doge-shiba-and-other-memecoins-fueling-mass-adoption-of-bases-l2-network-coinbase-e?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Dogecoin, Shiba Inu And Other Memecoins Fueling Mass Adoption Of Base&#8217;s L2 Network, Coinbase Exec Says: &#8216;</a>
Enphase Energy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENPH#NASDAQ">ENPH</a>)
Enphase Energy&#8217;s stock rose by 2.62%, ending the day at $113.41. The intraday high was $116.1, and the low was $109.65. The 52-week high and low are $228.36 and $73.49, respectively. The company reported <a href="https://www.benzinga.com/news/earnings/24/04/38391465/enphase-energy-q1-earnings-revenue-eps-come-in-below-estimates-amid-softening-us-demand">first-quarter revenue</a> of $263.3 million, missing the consensus estimate. 
Texas Instruments Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TXN#NASDAQ">TXN</a>)
Texas Instruments saw a 1.22% increase, closing at $165.42. The intraday high and low were $166.9 and $162.46, respectively, with a 52-week range of $188.12 to $139.48. The company reported <a href="https://www.benzinga.com/news/earnings/24/04/38390554/texas-instruments-q1-earnings-eps-beat-revenue-beat-despite-decline-across-all-end-markets">first-quarter revenue of $3.66 billion</a>, beating the consensus estimate. 
Rivian Automotive Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>)
Rivian Automotive&#8217;s stock rose by 2.84%, closing at $9.04. The stock&#8217;s intraday high was $9.24, with a low of $8.69. The 52-week high and low are $28.06 and $8.26, respectively. The company announced a <a href="https://www.benzinga.com/markets/equities/24/04/38380242/rivians-earth-day-offer-trade-in-your-gas-powered-car-and-get-up-to-5k-off-on-r1-ev">discount of up to $5,000</a> on qualifying new R1 models when customers trade in select gas-powered vehicles.
Photo by Jirapong Manustrong on Shutterstock
Prepare for the day&#8217;s trading <a href="Premarket Movers &amp; News">with top premarket movers and news</a> by Benzinga.
Read Next: <a href="https://www.benzinga.com/markets/equities/24/04/38350014/elon-musk-reacts-to-teslas-pricing-debate-only-a-fool-thinks?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Reacts To Tesla&#8217;s Pricing Debate: &#8216;Only A Fool Thinks ….&#8217;</a>
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 Shivdeep Dhaliwal</a> 
 
 
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ENPH

Tesla, Meta Platforms, Enphase Energy, Texas Instruments, Rivian: Why These 5 Stocks Are On Investors' Radars Today

The U.S. Senate has passed a bill that could lead to the ban or sale of&nbsp;TikTok, marking a significant development <a href="https://www.benzinga.com/news/24/04/38372058/analyst-predicts-tiktok-shutdown-in-us-by-next-year-ahead-of-senate-vote-will-not-operate-here">in the ongoing debate over</a> the app&#8217;s Chinese ownership.
What Happened: The Senate voted 79-18 in favor of the bill, which is part of a larger funding package providing aid to Israel, Ukraine, and Taiwan,&nbsp;<a href="https://www.washingtonpost.com/technology/2024/04/23/tiktok-ban-senate-vote-sale-biden/">reported</a>&nbsp;The Washington Post on Tuesday.&nbsp;The bill now awaits President&nbsp;Joe Biden&#8216;s signature, who has said he will sign the bill into law on Wednesday.
Once signed, the bill will give TikTok&#8217;s parent company,&nbsp;ByteDance,&nbsp;nine months to sell the&nbsp;app or face a national&nbsp;ban, with the possibility of a 90-day extension by the President.
The legislation, which <a href="https://www.benzinga.com/news/24/04/38322987/tiktoks-ticking-clock-meta-snap-stocks-climb-as-us-ban-bill-vote-nears">has bipartisan support</a>, is&nbsp;the most significant threat to&nbsp;TikTok&#8217;s U.S. operations, with over 170 million users in the country. Lawmakers have expressed concerns about the app&#8217;s Chinese ownership structure potentially <a href="https://www.benzinga.com/government/23/03/31479124/lawmakers-accuse-tiktok-of-being-national-security-threat-call-for-ban">compromising American data security</a>, a claim disputed by TikTok.
TikTok is expected to challenge&nbsp;the bill, setting the stage for a high-stakes legal battle. "It is unfortunate that the House of Representatives is using the cover of important foreign and humanitarian assistance to once again jam through a ban bill that would trample the free speech rights of 170 million Americans,&#8221; the platform <a href="https://www.benzinga.com/news/24/04/38353060/us-tiktok-ban-bill-would-trample-on-free-speech-rights-of-170m-americans-says-social-media-giant">said in a statement&nbsp;last week</a>.
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Why It Matters: The bill&#8217;s passage comes after years of scrutiny over TikTok&#8217;s ties to its Chinese parent company. The app previously proposed a plan, Project Texas, to safeguard U.S. data by storing it with American tech giant&nbsp;Oracle. However, this did not deter lawmakers from pursuing legislation to grant&nbsp;the executive branch power to&nbsp;restrict the platform.
Notable figures, including former President&nbsp;Donald Trump&nbsp;and&nbsp;Elon Musk, have&nbsp;<a href="https://www.benzinga.com/news/24/04/38368049/trump-reverses-tiktok-ban-stance-accuses-biden-of-favoring-zuckerbergs-meta-doing-it-to-help-faceboo">opposed the potential ban</a>, citing concerns about free speech and national security. Meanwhile,&nbsp;Nikki Haley, former U.S. Ambassador to the UN, has <a href="https://www.benzinga.com/government/24/04/38350596/former-gop-hopeful-nikki-haley-joins-calls-for-tiktok-ban-to-stop-infiltration-of-chinese-communist">supported the ban to prevent</a> the Chinese Communist Party&#8217;s influence on American society.
Analyst Dan Ives believes that Microsoft and Oracle could <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38358239/microsoft-and-oracle-could-be-tiktoks-likely-buyers-but-real-winners-would-be-mark-">emerge as the real winners</a> by acquiring TikTok, with Meta Platforms Inc.&#8217;s Mark Zuckerberg and Alphabet Inc.&#8217;s Sundar Pichai also benefiting from the situation.
Photo by XanderSt on Shutterstock
Check out more of Benzinga&#8217;s Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:&nbsp;<a href="https://www.benzinga.com/news/24/04/38370806/elon-musk-calls-social-security-the-biggest-ponzi-scheme-ever-maybe-ai-and-robots-will-save-it?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Calls Social Security The Biggest Ponzi Scheme Ever: &#8216;Maybe AI And Robots Will Save It&#8217;</a>
Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

Social Media

Media

Biden Set To Sign TikTok Ban Into Law After Senate Passes Bill Supported By GOP, Democrats

Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) shares are on the rise, despite the company&#8217;s disappointing Q1 results. The electric vehicle giant&#8217;s stock surged after it announced plans to speed up the launch of new models.
What Happened: Phil LeBeau, a CNBC correspondent covering the automotive and aviation sectors, described Tesla&#8217;s Q1 results as &#8220;ugly.&#8221; However, the company&#8217;s shares soared following its announcement of an accelerated new model launch.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">&quot;Let&#39;s be honest, it was ugly,&quot; says <a href="https://twitter.com/Lebeaucarnews?ref_src=twsrc%5Etfw">@Lebeaucarnews</a> after <a href="https://twitter.com/search?q=%24TSLA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TSLA</a> posted Q1 results. But shares are surging&#8230; here&#39;s why. <a href="https://t.co/cA7TH15oD5">pic.twitter.com/cA7TH15oD5</a>
&mdash; Last Call (@LastCallCNBC) <a href="https://twitter.com/LastCallCNBC/status/1782912167974436915?ref_src=twsrc%5Etfw">April 23, 2024</a></blockquote>
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Tesla <a href="https://www.benzinga.com/news/earnings/24/04/38390883/tesla-q1-earnings-highlights-ev-giant-misses-wall-street-estimates-makes-cost-cuts-invests-in-ai-sp">stated</a>, &#8220;We have updated our future vehicle line-up to accelerate the launch of new models ahead of our previously communicated start of production in the second half of 2025.&#8221; This includes more affordable models and a next-generation platform. 
See Also: <a href="https://www.benzinga.com/news/earnings/24/04/38390883/tesla-q1-earnings-highlights-ev-giant-misses-wall-street-estimates-makes-cost-cuts-invests-in-ai-sp?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Tesla Q1 Earnings Highlights: EV Giant Misses Wall Street Estimates, Makes Cost Cuts, Invests In AI, Spee</a>
The company&#8217;s shareholder letter on Tuesday also mentioned the development of a next-gen vehicle. Tesla acknowledged that this update might result in less cost reduction than previously expected but would allow for a more efficient increase in vehicle volumes during uncertain times.
Why It Matters: Despite the <a href="https://www.benzinga.com/news/earnings/24/04/38390883/tesla-q1-earnings-highlights-ev-giant-misses-wall-street-estimates-makes-cost-cuts-invests-in-ai-sp">disappointing Q1 results</a>, Tesla&#8217;s stock has been on the rise. The company&#8217;s Q1 revenue of $21.0 billion was 9% lower than the previous year and missed the Street consensus estimate of $22.15 billion.
Automotive revenue was $17.38 billion in the quarter, down 13% year-over-year. Services and other revenue of $2.29 billion rose 25% year-over-year.
The company said revenue was impacted by lower average selling prices and lower vehicle deliveries in the quarter.
Earnings per share were 45 cents in the quarter, which missed a Street consensus estimate of 51 cents per share.
Price Action: According to the data <a href="https://www.benzinga.com/pro/">from Benzinga Pro</a>, Tesla shares are currently priced at $144.61, reflecting a 1.80% increase from Tuesday&#8217;s closing price. Notably, in after-hours trading, the stock surged by 13.38%. However, despite these fluctuations, Tesla&#8217;s shares have experienced a year-to-date decline of 41.79%.
Read Next: <a href="https://www.benzinga.com/markets/equities/24/04/38384714/whats-going-on-with-trump-media-technology-stock-on-tuesday?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">What&#8217;s Going On With Trump Media &amp; Technology Stock On Tuesday?</a>
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Earnings

Earnings Misses

Tesla Stock Surges Despite 'Ugly' Q1 Results: Here's Why

Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) is reportedly set to launch a&nbsp;Calculator app&nbsp;for the iPad, a long-awaited feature, with the upcoming iPadOS 18.
What Happened: The new app&nbsp;is expected to be unveiled&nbsp;during the opening keynote of&nbsp;Apple&#8217;s annual <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38362506/apples-next-big-leap-how-ai-software-and-wwdc-announcements-could-fuel-growth">developers conference WWDC</a>&nbsp;on June 10,&nbsp;<a href="https://www.macrumors.com/2024/04/23/calculator-app-for-ipad-rumor/">reported</a> MacRumors, citing a source familiar with the matter. The app will be available for all iPad models compatible with the software update.
The absence&nbsp;of an official Calculator app&nbsp;on the iPad has been&nbsp;a subject of humor on social media, with users eagerly anticipating&nbsp;its arrival. In the meantime,&nbsp;iPad users have been using third-party calculator apps from the App Store.
If the reports are true, Cupertino would be introducing the app on <a href="https://www.benzinga.com/markets/equities/24/01/36814939/if-you-invested-1000-in-apple-when-the-ipad-was-launched-14-years-ago-heres-how-much-youd-have-t">iPads after 14 years of launching</a> the device. 
See Also:&nbsp;<a href="https://www.benzinga.com/general/entertainment/24/04/38345826/get-your-popcorn-ready-6-fresh-releases-to-stream-this-weekend-on-netflix-hulu-and-disney?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Apple In Talks With Google To License Gemini AI Models For Future iPhones: Report</a>
Last week, it was reported that macOS 15 will&nbsp;feature a revamped Calculator app&nbsp;with the integration of Notes&nbsp;app, a resizable window, a&nbsp;sidebar that lists recent calculations,&nbsp;and more. It is speculated&nbsp;that the updated Mac app&nbsp;will be based on the&nbsp;new iPad app.
The first beta of iPadOS&nbsp;18 is expected to be&nbsp;released immediately following the WWDC&nbsp;keynote, with the update set for a widespread release in September.
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
Why It Matters: This development comes on the <a href="https://www.benzinga.com/news/24/04/38382312/apple-sets-date-for-special-event-after-18-month-pause-new-ipads-expected-on-may-7">heels of Apple&#8217;s announcement of a&nbsp;special event</a>, where it is expected to unveil new iPads. The tech giant has started sending out invitations to a &#8220;special Apple Event&#8221; on May 7, at 7 AM PT/10 AM ET. 
This event is anticipated to focus on the new iPad models, as indicated by the image on the invite, which features the Apple Pencil.
Apple&#8217;s reported launch of new iPad Pro and iPad Air models could end a nearly 18-month drought. The launch is set to include new 11-inch and 13-inch OLED iPad Pro models, an enlarged 12.9-inch iPad Air, and updated Magic Keyboard and Apple Pencil accessories.
Photo Courtesy: Shutterstock.com
Check out more of Benzinga&#8217;s Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.&nbsp;
Read Next:&nbsp;<a href="https://www.benzinga.com/news/24/03/37724059/vivek-ramaswamy-weighs-in-on-tiktok-debate-suggests-senate-bill-to-ban-tech-giants-from-sharing-user?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Apple Fails To Dismiss Lawsuit Claiming AirTags Are Weapon Of Stalkers: ‘Determination Cannot Be Made At This Early Stage&#8217;</a>
Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.