Tesla Stock Investors: Elon Musk Expects 99% Market Share in This Trillion-Dollar Industry
But CEO Elon Musk still had good news for shareholders on the earnings call. Tesla is on track to launch its first robotaxi service in Austin, Texas, by June, and Musk predicted the company would eventually have "99% market share or something ridiculous."
Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Continue »
Here's what investors should know.
Several industry experts think autonomous ride-sharing will be a trillion-dollar market
Autonomous driving technology promises to revolutionize mobility by replacing human drivers with artificial intelligence (AI) software, which should improve safety and reduce costs. Straits Research says the ride-sharing market will exceed $820 billion in 2033, but some industry experts think cost efficiencies arising from robotaxis will ultimately result in a bigger market by encouraging more people to participate.
For instance, Morgan Stanley recently wrote, "Assuming that the autonomous providers are paid per mile that they drive, the industry could have an addressable market of over $1 trillion per year just in the U.S." Similarly, Uber CEO Dara Khosrowshahi recently said, "The U.S. market alone is a trillion-dollar opportunity." And Ark Invest thinks the global robotaxi market will reach $11 trillion by 2030.
Waymo is currently the market leader, but Musk expects Tesla to dominate the robotaxi market
Alphabet subsidiary Waymo is currently the market leader in autonomous ride-sharing. It first commercialized robotaxi services in Phoenix in 2020 and has since expanded to San Francisco, Los Angeles, and Austin. Waymo will launch in Atlanta later this year, with additional launches in Miami and Washington, D.C., scheduled for 2026. The company currently provides 250,000 rides per week in the U.S.
Comparatively, Tesla will launch its first autonomous ride-sharing service in Austin by June, followed by other U.S. cities shortly thereafter. While Waymo has a formidable head start, Elon Musk thinks Tesla will eventually have 99% market share. His confidence is based on the data advantage derived from having millions of sensor-equipped cars on the road and the scalability of its full self-driving (FSD) platform.
"The more training data you have, the better the results," Musk told analysts on an earnings call in 2023. "Tesla has more vehicles on the road that are collecting this data than all of the other companies combined." That advantage should theoretically let the company develop superior AI models for its autonomous driving software.
Also, Waymos are equipped with numerous sensors -- cameras, radar, lidar, and audio receivers -- that increase costs and limit scalability. Equipment alone on the fifth-generation robotaxis costs as much as $100,000, according to Waymo CEO Dmitri Dolgov. Additionally, lidar requires the company to meticulously map each city before its robotaxis can navigate the streets. That means Waymo cannot simply launch in a new city without considerable work beforehand.
Comparatively, Tesla says its Cybercab (a dedicated robotaxi) will cost less than $30,000 because its FSD platform is powered only by cameras and computer vision. That approach is also more scalable. Once FSD is perfected, Tesla should be able to push updates to cars in any metropolitan area and commence robotaxi operations immediately. That explains why Musk believes the company will eventually dominate the market.
Having said that, investors should bear in mind that Tesla has frequently overpromised and underdelivered. In 2019, Musk predicted the company would have a million robotaxis on the road in the next year. Five years have passed, and Tesla has yet to put a single driverless taxi on the road, but this time could be different. Musk says full autonomous rides are coming to Austin in June.
Don't miss this second chance at a potentially lucrative opportunity
Ever feel like you missed the boat in buying the most successful stocks? Then you'll want to hear this.
On rare occasions, our expert team of analysts issues a 'Double Down' stock recommendation for companies that they think are about to pop. If you're worried you've already missed your chance to invest, now is the best time to buy before it's too late. And the numbers speak for themselves:
Nvidia: if you invested $1,000 when we doubled down in 2009, you'd have $287,877!*
Apple: if you invested $1,000 when we doubled down in 2008, you'd have $39,678!*
Netflix: if you invested $1,000 when we doubled down in 2004, you'd have $594,046!*
Right now, we're issuing 'Double Down' alerts for three incredible companies, available when you join Stock Advisor, and there may not be another chance like this anytime soon.
See the 3 stocks »
*Stock Advisor returns as of April 21, 2025
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Canada News.Net
36 minutes ago
- Canada News.Net
Elon Musk claims antitrust violation in App Store rankings
AUSTIN, Texas: Billionaire entrepreneur Elon Musk, owner of SpaceX, Tesla, and the social media platform X, says he plans to sue Apple over its refusal to feature X and his artificial intelligence chatbot app Grok in the App Store's "Must Have" recommendations. In a late-night post on August 11, Musk publicly challenged Apple's decision, writing on X: "Hey @Apple App Store, why do you refuse to put either X or Grok in your 'Must Have' section when X is the #1 news app in the world and Grok is #5 among all apps? Are you playing politics? What gives? Inquiring minds want to know." Musk's AI startup, xAI, develops Grok. He alleged that Apple's practices were unfairly limiting competition in the AI space. "Apple is behaving in a manner that makes it impossible for any AI company besides OpenAI to reach #1 in the App Store, which is an unequivocal antitrust violation. xAI will take immediate legal action," he wrote, without providing further details about the planned lawsuit. Apple has not responded to Musk's accusations. The tech giant has faced increasing scrutiny over its App Store policies and alleged antitrust violations. In recent years, both U.S. and European regulators have taken action against the company. In the United States, a federal judge recently ruled that Apple violated an injunction stemming from an antitrust case brought by Fortnite developer Epic Games. In Europe, the 27-nation European Union fined Apple 500 million euros in April for breaking competition rules by preventing app developers from directing users to cheaper options outside the App Store. Just last year, the EU also imposed a nearly US$2 billion fine, ruling that Apple unfairly favored its own music streaming service by blocking rivals such as Spotify from informing users about lower-cost subscription options available outside iPhone apps. As of early August 12, the App Store's top five apps were TikTok, Tinder, Duolingo, YouTube, and Bumble. OpenAI's ChatGPT ranked seventh. Despite Musk's claims that X is the world's top news app and Grok ranks fifth among all apps, neither is included in Apple's "Must Have" section—a curated list the company promotes to iOS users.
Globe and Mail
an hour ago
- Globe and Mail
Strategy Announces Legal Name Change from MicroStrategy Incorporated to Strategy Inc
In furtherance of the re-brand announced on February 5, 2025, Strategy Inc (Nasdaq: MSTR/STRK/STRF/STRD/STRC), the largest corporate holder of bitcoin and the world's first Bitcoin Treasury Company, today announced it has changed its legal name from MicroStrategy Incorporated to 'Strategy Inc', effective August 11, 2025. The Company's securities listed on the Nasdaq Global Select Market continue to trade under their ticker symbols: MSTR (Class A common stock), STRK (8.00% Series A Perpetual Strike Preferred Stock), STRF (10.00% Series A Perpetual Strife Preferred Stock), STRD (10.00% Series A Perpetual Stride Preferred Stock), and STRC (Variable Rate Series A Perpetual Stretch Preferred Stock). CUSIP numbers also remain unchanged. The name change does not affect the Company's corporate structure. About Strategy Strategy Inc (Nasdaq: MSTR/STRK/STRF/STRD/STRC) is the world's first and largest Bitcoin Treasury Company. We are a publicly traded company that has adopted Bitcoin as our primary treasury reserve asset. By using proceeds from equity and debt financings, as well as cash flows from our operations, we strategically accumulate Bitcoin and advocate for its role as digital capital. Our treasury strategy is designed to provide investors varying degrees of economic exposure to Bitcoin by offering a range of securities, including equity and fixed-income instruments. In addition, we provide industry-leading AI-powered enterprise analytics software, advancing our vision of Intelligence Everywhere. We leverage our development capabilities to explore innovation in Bitcoin applications, integrating analytics expertise with our commitment to digital asset growth. We believe our combination of operational excellence, strategic Bitcoin reserve, and focus on technological innovation positions us as a leader in both the digital asset and enterprise analytics sectors, offering a unique opportunity for long-term value creation. Strategy, MicroStrategy, Intelligence Everywhere, are either trademarks or registered trademarks of Strategy Inc in the United States and certain other countries. Other product and company names mentioned herein may be the trademarks of their respective owners. For more information about Strategy, visit
Globe and Mail
an hour ago
- Globe and Mail
Here's How Much a $50-Per-Week Investment in the Nasdaq-100 Could Grow to Be Worth in 10, 20, and 30 Years
Key Points If you invested $50 per week for 30 years, you would have set aside $78,000. Investing that money into a growth-focused fund could result in you having a portfolio worth hundreds of thousands of dollars. Even if the stock market cools down in the future, you can still accumulate some fantastic gains by investing regularly. 10 stocks we like better than Invesco QQQ Trust › The Nasdaq is home to many of the best growth stocks in the world. But an even more exclusive club is the Nasdaq-100 index, which tracks the most valuable stocks on the exchange (excluding financial stocks). In 10 years, it has generated total returns, including dividends, of about 460%. At that rate of return, an $18,000 investment would have turned into more than $100,000. Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Learn More » Investing in an exchange-traded fund (ETF) such as the Invesco QQQ Trust (NASDAQ: QQQ), which tracks the index, can be a great way to build up your wealth over the years. And even if you don't have a large amount of money to invest today, it can still be worthwhile to invest modest amounts on a regular basis. Below, I'll show you how a $50-per-week investment in the Invesco QQQ Trust can grow over the long term. What kind of return can you expect from the Nasdaq-100 index? The biggest and most difficult variable to account for when projecting future returns is the annual growth rate. The Nasdaq-100 index has averaged a compound annual growth rate of nearly 19% during the past decade, based on its total returns. That's a phenomenal performance, but that doesn't mean that it will continue growing at such a high rate in the future. The stock market has been a bit hot in recent years, and you may want to brace for more modest returns. A good growth rate to use as a base case is the S&P 500 's long-run average, which is about 10%. A best-case scenario might have you outperforming it and averaging a long-run return of 11%. But there's also the possibility that the QQQ ETF ends up doing worse and you end up averaging a lower rate of return, perhaps 9%. To give you a well-rounded picture of how an investment in the fund might grow over the long term, it's important to consider all of the above scenarios. Although there's no way to know for sure what the annual return will be, doing this analysis can at least give you a broader idea of what you might reasonably expect in the long run. How big could your investment become? If you invest $50 per week, that's the equivalent of $2,600 per year. After 10 years, if you keep investing monthly, you will have put aside $26,000. If you're able to keep the habit up for 20 years, then you would have invested $52,000. After 30 years, your contributions would total $78,000. The big payoff, however, comes from putting those investments in the QQQ ETF, which can make the most of those contributions. In the table below, you can see what your estimated portfolio balance would be, assuming you invested $50 each week into the fund, based on varying growth rates. Year 9% Growth 10% Growth 11% Growth 10 $42,184 $44,693 $47,389 20 $145,859 $166,066 $189,587 30 $400,660 $495,673 $616,279 Table and calculations by author. Even if you averaged 9% growth, after 30 years, your investment would be worth more than $400,000 -- more than five times the $78,000 you would have contributed over that period. If you end up averaging an 11% return, then you're up to more than $600,000. The difference in even just a few percentage points can work out to hundreds of thousands of dollars over a long duration. And that's why it's important, when investing for the long haul, to try and stack the odds in your favor as best as you can, which means investing in top growth stocks. Investing in a growth-focused fund such as the Invesco QQQ Fund can help you achieve strong returns in the future. And although it may be vulnerable to sell-offs and experience some bad years, if you remain invested, it can potentially generate life-changing returns. Should you invest $1,000 in Invesco QQQ Trust right now? Before you buy stock in Invesco QQQ Trust, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Invesco QQQ Trust wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $653,427!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,119,863!* Now, it's worth noting Stock Advisor's total average return is 1,060% — a market-crushing outperformance compared to 182% for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of August 4, 2025
