https://www.youtube.com/watch?v=ftUlXAfrgwM
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0:07 hey it's dave so in this video i'm going 0:09 to be going over why tesla stock is a 0:11 big buy according to goldman sachs so 0:14 yesterday yahoo finance released this 0:16 article says tesla stock is a big buy 0:18 goldman sachs says and it highlights an 0:21 an analyst note from mark delaney right 0:24 the goldman sachs analyst covering the 0:26 auto market the article starts out and 0:29 says goldman sachs analyst mark delaney 0:31 believes there is more upside to tesla 0:32 delaney's hot take comes after a meeting 0:34 with tesla's head of investor relations 0:37 martin vietcha all right so for the past 0:39 10 years since i've been invested in 0:41 tesla the most important analyst knows 0:43 are usually the ones that come out after 0:45 meeting with tesla investor relations 0:48 and this is because tesla's ir let's say 0:50 martin vietch in this case is sharing 0:52 with this analyst with these analysts 0:54 the most important up-to-date 0:56 information for example how demand is 0:58 what supply what the production rate is 1:00 and they're sharing with these analysts 1:02 the most important points that investors 1:04 need to know right now so this is 1:05 actually a pretty important 1:07 analyst note the big question is why is 1:10 goldman sachs analyst mark delaney 1:12 bullish on tesla and this is what we're 1:14 going to focus on on in this video all 1:16 right so the first takeaway from his 1:17 analyst note and this article is that 1:19 tesla costs are headed lower so it says 1:22 in this article quote tesla's automotive 1:24 cost of goods sold per vehicle fell to 1:27 about thirty six thousand dollars in 1:28 2021 from over 70 000 in 2017. so a 1:33 large part of that was because let's say 1:35 model s and x was basically almost their 1:37 only cars let's say in 2017 that they're 1:39 selling however a large part of it also 1:41 is tesla's driving down right the cost 1:43 of their vehicles um over this past four 1:46 year period while this metric increased 1:48 in the second quarter driven by factory 1:50 shutdowns factory startup costs and 1:52 input cost pressure cost of goods sold 1:54 per car can trend lower over time as 1:56 tesla benefits from the ramp of berlin 1:58 and austin factories and the reduced 2:00 percentage of vehicles coming from 2:02 fremont which is a converted ic factory 2:04 with higher costs than tesla's 2:06 purpose-built ev factories scale and 2:09 vehicle platform and battery 2:10 improvements all right so here are my 2:11 thoughts on this first kind of point 2:13 from goldman sachs i think affordability 2:16 ultimately determines right the total 2:17 addressable market in other words if 2:20 you're going to have a 50 or 100 000 2:22 right car there's going to be a limited 2:23 market for that but as the cost of the 2:25 car drops you're going to radically 2:27 increase the total addressable market 2:29 and this is one of the key kind of 2:31 challenges and focuses that tesla has 2:33 going forward one of the reasons why 2:35 tesla doesn't have a super cheap car 2:36 right now is they don't need to they're 2:38 planning right their growth of an 2:40 addressable market slowly and 2:42 incrementally over time to keep pace 2:44 with their 50 2:45 right annual growth targets so elon musk 2:48 and tesla are keenly aware 2:50 that growing right their unit sales 50 2:53 over time year over year is going to 2:55 require right the growing of this total 2:57 address market and the key factor in 2:59 doing that is they're going to be 3:00 lowering the cost of goods through 3:02 manufacturing efficiencies and this is 3:04 one of the key focuses for tesla going 3:06 forward which is basically right the 3:07 machine that builds the machine so i 3:09 think tesla's able to innovate quicker 3:11 than other automakers with manufacturing 3:13 and there are several reasons for this 3:15 first tesla has fewer and larger factors 3:18 right they don't have dozens of 3:19 factories in dozens of countries around 3:21 the world and if you if they had that 3:23 then it'd be very difficult right to 3:25 innovate on these manufacturing 3:26 efficiencies across all the factories so 3:28 tesla having fewer factories and larger 3:30 factories is actually a big advantage 3:32 next tesla has fewer vehicle models so 3:35 they largely depend on the model 3 and 3:37 model y which is basically one platform 3:39 and this is actually a huge advantage 3:41 because they can really focus on making 3:43 that platform the best it could possibly 3:45 be and they implement radical just 3:47 innovations continuously and making that 3:50 right the key focus for tesla number 3:52 three tesla has tighter integration with 3:54 engineering and their factories so the 3:56 engineers are deeply involved not just 3:58 in creating the factories but in 4:00 building the machines and innovating all 4:02 the processes right that the 4:03 manufacturing goes through and this 4:05 tight integration that tesla has is 4:07 really a big advantage right number four 4:09 tesla is focused on building new 4:10 factories rather than retrofitting 4:12 existing factories this is one of the 4:15 challenges that existing oems have is 4:17 they have a ton of factories all over 4:18 the world and then they're having to 4:20 retrofit these factors which is a lot 4:22 more difficult tesla's able to start 4:24 from a clean slate and have new 4:26 generations right of manufacturing 4:28 efficiencies with their new factories 4:30 all right number five is tesla has a 4:32 greater urgency and sense of mission to 4:34 accelerate to transition to sustainable 4:36 energy this is one of the reasons why 4:38 tesla moves faster right they have more 4:40 ambitious goals and yeah they're 4:42 innovating more quickly with 4:43 manufacturing because they have a big 4:45 and a more important reason to do so all 4:47 right number six tesla has an ability to 4:50 attract the world's best engineers 4:52 because of right the mission the culture 4:55 the leadership involved with tesla 4:57 because of that they're able to innovate 4:59 with manufacturing faster as well number 5:01 seven tesla is implementing improvements 5:03 right away with their vehicles rather 5:05 than waiting for model years like other 5:07 automakers in other words a lot of 5:09 automakers right they kind of 5:11 match all their improvements with with a 5:13 model year and oftentimes the model 5:15 improvements aren't even that 5:16 significant for tesla they're 5:18 continuously implementing a lot of their 5:20 improvements right away every week 5:22 they're improving their cars and what 5:24 goes into their cars number eight tesla 5:26 has tight vertical integration and they 5:29 will take in-house what they need to 5:30 they'll build the products right that 5:32 they need to if they can build it better 5:34 and cheaper and this helps with 5:36 improving manufacturing and lowering 5:38 costs next number nine tesla's pushing 5:40 the limits the same way that tesla got 5:43 the model 3 to be under 40 thousand 5:45 dollars this is the same way tesla will 5:47 lower costs going forward meaning tesla 5:49 has its approach would they innovate 5:51 through thousands and thousands of 5:52 approaches every single part and every 5:54 single process is fair game and is 5:57 actually a target for tesla to try to 5:59 improve right its cost efficiencies and 6:01 that approach of innovating right 6:03 through driving down costs and building 6:05 things better through thousands of 6:06 different ways that's one of the ethos 6:08 and one of the core competitive 6:10 advantages i think that tesla has all 6:11 right let's go on to takeaway number two 6:14 from this goldman sachs note they say 6:16 that tesla is a winner from the 6:17 inflation reduction act ira so we know 6:20 this act was passed into law 6:22 here says quote a lot will depend on 6:23 guidance from the government about how 6:25 the law will be interpreted tesla has 6:27 more local manufacturing than average 6:29 with model 3 and y recognized as the 6:30 most american-made vehicle per media 6:32 sources and we believe this will be a 6:34 positive for tesla to potentially 6:35 qualify for at least partial credits on 6:38 some vehicles over time and tesla could 6:40 potentially benefit as well in our view 6:41 from incentives for solar batteries 6:44 charging and commercial vehicles all 6:45 right so the us government has yet to 6:48 define the exact guidelines on which evs 6:51 are going to qualify for the amount of 6:53 credits let's say for next year however 6:55 i'm pretty optimistic i think tesla will 6:57 be the dominant winner of the inflation 6:58 and reduction act and there are several 7:00 reasons for this first so number one 7:02 tesla can adjust their raw material 7:04 supply chain for batteries and cells 7:05 quicker than other auto makers in other 7:08 words tesla because they're so deeply 7:10 ingrained with the whole battery supply 7:11 chain and they've been doing so for many 7:13 years right they actually source um 7:15 these raw materials tesla's able to move 7:17 quicker let's say there's some materials 7:19 that they need to change and source from 7:21 a country that has a free trade 7:22 agreement with the us tesla's able to do 7:24 this i think a lot faster than any other 7:26 auto oem out there second tesla is the 7:29 most integrated auto maker out there 7:32 meaning they source their raw materials 7:34 they're making batteries right they have 7:36 making cars they have their own service 7:37 their own software fsd et cetera and 7:39 because of this i think tesla is able to 7:41 adjust much quicker than other auto oems 7:44 all right number three i expect the us 7:46 government to release a more lenient 7:48 interpretation for their first couple 7:50 years to give automakers a chance to 7:52 realize some of these electric vehicle 7:54 credits and we're going to probably see 7:56 right the release of these guidelines in 7:58 the next few months or so number four 7:59 tesla has the highest demand right for 8:02 their electric vehicles that equals 8:04 pricing power meaning of all the 8:06 electric vehicles people are interested 8:07 in right tesla tops the list and this is 8:09 another reason why tesla will benefit 8:11 greatly from these ev tax credits all 8:13 right number five tesla will get extra 8:15 credits um from the government for 8:17 battery production right for their 8:19 factories for energy storage solar and 8:21 semi there's actually a ton of 8:22 interesting 8:23 credits for sustainable energy that 8:26 tesla will be eligible for and because 8:28 tesla is a sustainable energy company 8:30 they're going to be one of the most 8:31 massive beneficiaries of the inflation 8:33 reduction act all right so what will be 8:35 the result here the result is tesla will 8:37 have a higher demand of their evs 8:39 because there's going to be a lower 8:41 effective consumer price due to the ev 8:43 tax credits therefore tesla will likely 8:46 have to raise or adjust their pricing to 8:48 meet this higher demand and because of 8:51 the higher pricing tesla will have 8:53 higher gross margins higher operating 8:55 margins and higher profits and as all of 8:58 this is being realized over the next few 9:00 years to several years analysts and 9:01 investors are going to have to adjust 9:03 their expectations and i think increase 9:05 their valuation estimates all right so 9:07 some people might ask what is the 9:09 biggest catalyst for tesla stock in the 9:10 next one to two years in my opinion it 9:13 is clearly tesla growing operating 9:15 margins and profits faster right than 9:17 people expected i think tesla was 9:19 already on the track to growing 9:21 operating margins and profits faster 9:23 than expected without the ev tax credits 9:25 so these ev tax credits are just like 9:27 pouring gasoline on the fire i think 9:29 tesla is going to grow these operating 9:30 margins of profits much much faster 9:32 right than analysts and investors are 9:34 expecting all right the third takeaway 9:36 from this goldman sachs note is that 9:38 tight ev supply supports higher prices 9:41 and profits so quote tesla believes that 9:43 consumers will increasingly move toward 9:45 evs similar to other technology 9:47 inflections for example crt to lcd tvs 9:50 and feature phones to smartphones but 9:52 the ev industry could be supply 9:53 constrained over the intermediate term 9:55 as new battery component supply and 9:57 assembly takes time to ramp so in other 9:59 words even if ev automakers are trying 10:02 to ramp and increase their production 10:04 they might have a hard time because 10:05 there's a limited and a constrained 10:07 battery and component supply 10:09 element here so tesla however is in an 10:12 interesting position because they're 10:13 probably the most aggressive in securing 10:16 the complete battery supply chain from 10:18 raw materials etc and they've been doing 10:20 this actually for many years it's all to 10:22 support right their ongoing 50 10:24 year-over-year growth targets and 10:26 eventually to reach 20 million vehicles 10:28 a year within 10 years elon musk has 10:30 been talking about right his tesla 10:32 master plan part three that he's working 10:34 on this is a bigger bolder clearer and i 10:37 think more compelling right master plan 10:39 than any other automaker has right to 10:42 secure the supply chain needed to 10:44 massively increase your ev production 10:46 for tesla in my opinion i think this 10:47 master plan part three even though it 10:49 hasn't been released i think when it is 10:51 released i think we'll see that is more 10:53 ambitious than probably all the other 10:55 automakers combined all right so the 10:56 article wraps up with goldman's 10:58 investment thesis on tesla so here it is 11:00 he says we believe that tesla given its 11:03 leadership position in evs including its 11:05 vertical integration and tight coupling 11:07 of hardware and software as well as its 11:09 ecosystem of charging stations and brand 11:11 and is focused on clean transportation 11:12 more broadly given its solar and storage 11:15 businesses is well positioned to 11:16 capitalize on the long-term shift to evs 11:19 we expect tesla to expand margins in the 11:21 intermediate term as it ramps an 11:23 important model-wide product as well as 11:25 new factories in berlin germany and 11:27 austin texas and in the long term as it 11:29 increases this mix of software revenue 11:31 all right i think this was well said by 11:33 goldman sachs analyst mark delaney it 11:34 really describes a lot of the positive 11:36 catalysts and reasons to be bullish 11:38 right on tesla for the next few years 11:41 tesla in the intermediate term is going 11:43 to be expanding margins because of their 11:45 model y ramp but also because they're 11:47 ramping berlin and austin at the moment 11:49 so for the next several quarters i think 11:51 we are going to see actually healthy 11:53 margin expansion from these factors as 11:55 well as let's say the ev tax credits in 11:57 the u.s then longer term you have margin 11:59 expansion due to software revenue for 12:01 example the fsd are full self-driving 12:03 option uptake right is increasing in 12:05 pricing over time and as the features 12:07 get more robust more people will take 12:10 that option and increase test the 12:12 software margin however there's also 12:14 this robo-taxi element and i've been 12:15 thinking about this this past few days 12:17 this robo-taxi thing i think people are 12:19 sleeping on it in general and it's 12:21 because they see the faults right of 12:23 let's say the current fsd beta drives 12:26 however fsd beta has been getting 12:28 massively better over the past year 12:30 since i've had it in my car i've noticed 12:32 the pace of improvement is just 12:34 mind-blowing and what tesla can do right 12:36 now in fsd beta imagine what tesla's 12:38 going to be able to do in a year or two 12:41 i'm very confident i think with robo 12:42 taxi's eventual right release not just 12:45 release but roll out i think it's going 12:47 to take a few years tesla's going to 12:48 have to accrue billions of miles right 12:51 of data to convince regulators right of 12:54 robo-taxi and robo-taxi safety but once 12:56 tesla's able to do this this is a 12:58 completely new product it's a new 13:00 addressable market and it's huge right 13:03 it's transportation as a service before 13:05 the whole market that automakers were 13:06 addressing was basically a hardware 13:08 market right a vehicle hardware you sell 13:10 a one-time purchase twenty thirty 13:12 thousand dollars to a customer and then 13:14 it's the end of sale and you get a low 13:16 margin off of this but what robo taxis 13:18 does it completely creates a new type of 13:21 market for tesla it's not selling just 13:23 let's say vehicle hardware and getting a 13:25 margin off of that it's an ongoing 13:27 transportation as a service model now 13:29 this model is actually high margin it's 13:31 sustainable it's not just a one-time 13:32 one-time-off hardware sale it's an 13:34 ongoing recurring right transaction 13:36 model and i think it's actually a much 13:38 more lucrative model than the one-time 13:40 hardware vehicle model and i don't think 13:42 many analysts are factoring this into 13:44 their price targets or even into their 13:46 long-term plans i think most of them are 13:48 taking this wait-and-see approach we'll 13:50 see if tesla ever releases a robo-taxi 13:53 and if they do then at that time right 13:55 we will analyze right its potential and 13:58 its impact on valuation so for those who 14:00 are early adopters who have fsd beta 14:03 right in their cars who are tracking it 14:05 i think they have an advantage to 14:07 analyze and address and see what tesla's 14:09 potential is going forward in this huge 14:11 market all right a quick personal update 14:13 i'm at the rocky mountain national park 14:15 in colorado right now i've been here for 14:17 the past week i've had a fantastic time 14:19 with my family over the past three 14:21 months we've been going through various 14:22 national and state parks and we're 14:24 slowly gonna be wrapping up our trip by 14:27 heading back to texas over the next few 14:29 weeks and so this past summer you've 14:31 noticed i probably haven't done as many 14:33 videos as i normally have done and 14:34 that's mostly because i'm traveling 14:36 we're driving we're checking out we're 14:38 hiking all day i've decided to kind of 14:39 more focus right on family and my health 14:42 so anyways hopefully in a few weeks i'll 14:44 be back in austin texas and it'll be 14:46 easier to put out some more videos and 14:47 actually interview actually some people 14:49 that i've been wanting to interview and 14:50 a final personal update many of you have 14:52 been following some of the stuff i've 14:53 been doing with afghanistan over the 14:55 past year a year ago i interviewed on 14:57 this channel a few afghan students in 14:59 canada who had their families in kabul 15:01 at that time and over the next few weeks 15:03 we were able to work quickly and get 15:06 several of these families out of kabul 15:08 and into pakistan through the help of 15:11 several donors and myself we were able 15:13 to give stipends for these families to 15:16 live in pakistan 15:17 while they tried to find other 15:19 resettlement opportunities over the 15:21 course of the past year one of my major 15:23 projects has been trying to help these 15:25 families find a way out of pakistan 15:27 and the best opportunity has been canada 15:30 canada has a fantastic sponsorship 15:32 program for refugees and they released 15:34 actually a special program for afghan 15:36 refugees and we've been trying to get 15:38 these families into this program 15:40 we were able to turn in application get 15:43 full funding and we've been waiting 15:45 right on the canadian process and just 15:47 this morning i learned that two of these 15:48 families are boarding a flight from 15:50 pakistan tomorrow into canada they'll be 15:53 arriving in canada as not just refugees 15:55 but canada is going to give them 15:57 permanent residence status and these 15:59 families complete future and 16:01 generational future is going to be 16:03 changed forever so i'm really thankful 16:05 for the opportunity to be part of this 16:06 process and i'm thankful for those 16:08 people who've donated actually to this 16:10 whole project and have been following 16:12 this one of the key donors has been 16:14 emmett peppers he's pretty much matched 16:16 a lot of my donations with these 16:17 families and helping these families and 16:20 so people like emmett and others who've 16:22 given a special thanks and shout out to 16:25 them 16:25 you've made a huge difference in the 16:27 lives of not just these families but 16:29 their future generations and many 16:31 generations to come i'm hoping in the 16:33 future there can be more opportunities 16:35 like this because yeah investing and 16:37 making money is cool but what is even 16:39 better is using right those funds and 16:41 those resources to make a generational 16:43 impact all right hope this has been 16:44 helpful if it has good like and 16:46 subscribe all my videos can be found as 16:47 an audio podcast as well just search for 16:49 davey on investing in your favorite 16:51 podcast player i'm also on twitter 16:53 heyday7 alright we'll see you guys my 16:54 next video thanks
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0:05 [音樂] 0:07 嘿，這是戴夫，所以在這個視頻中我要去 0:09 討論為什麼特斯拉股票是 0:11 高盛認為大買所以 0:14 昨天雅虎財經發布了這個 0:16 文章說特斯拉股票是大買 0:18 高盛說，它強調了一個 0:21 馬克·德萊尼的分析師報告 右 0:24 高盛分析師報導 0:26 汽車市場文章開頭和 0:29 高盛分析師馬克德萊尼說 0:31 相信特斯拉還有更多上漲空間 0:32 德萊尼的熱門話題是在一次會議之後 0:34 與特斯拉投資者關係主管 0:37 martin vietcha 好吧，所以過去 0:39 我投資10年了 0:41 特斯拉最重要的分析師知道 0:43 通常是之後出來的 0:45 與特斯拉投資者關係會面 0:48 這是因為特斯拉的 ir 讓我們說 0:50 martin vietch 在這種情況下正在分享 0:52 與這位分析師 與這些分析師 0:54 最重要的最新 0:56 信息，例如需求如何 0:58 什麼供應 生產率是多少 1:00 他們正在與這些分析師分享 1:02 投資者最關注的點 1:04 現在需要知道所以這是 1:05 實際上一個非常重要的 1:07 分析師指出，最大的問題是為什麼 1:10 高盛分析師馬克德萊尼 1:12 看好特斯拉，這就是我們 1:14 在此視頻中將重點關注所有 1:16 對，所以他的第一個外賣 1:17 分析師筆記，這篇文章是 1:19 特斯拉的成本正在下降，所以它說 1:22 在本文中引用特斯拉的汽車 1:24 每輛車的銷售成本下降至 1:27 大約三萬六千美元 1:28 2021 年從 2017 年超過 70,000 人。所以 1:33 很大一部分是因為讓我們說 1:35 model s 和 x 基本上是他們的 1:37 只有汽車讓我們在 2017 年說它們是 1:39 但是也出售其中的很大一部分 1:41 特斯拉正在降低成本嗎 1:43 他們的車輛在過去的四 1:46 年期間，而該指標增加 1:48 二季度工廠帶動 1:50 關閉工廠啟動成本和 1:52 投入成本壓力銷售商品成本 1:54 隨著時間的推移，每輛車可能會趨於下降，因為 1:56 特斯拉受益於柏林的坡道 1:58 和奧斯汀工廠和減少 2:00 來自的車輛百分比 2:02 弗里蒙特是一家改裝的集成電路工廠 2:04 成本比特斯拉高 2:06 專門建造的電動汽車工廠規模和 2:09 車輛平台和電池 2:10 好的改進，所以這是我的 2:11 關於第一種觀點的想法 2:13 來自高盛，我認為負擔能力 2:16 最終決定權總 2:17 換句話說，如果 2:20 你會有 50 或 100 000 2:22 正確的車將是有限的 2:23 市場，但作為成本 2:25 你會從根本上掉下車 2:27 增加總目標市場 2:29 這是一種關鍵的 2:31 特斯拉麵臨的挑戰和重點 2:33 前進的原因之一 2:35 特斯拉沒有超級便宜的車 2:36 現在是他們不需要他們 2:38 規劃正確的成長 2:40 目標市場緩慢而 2:42 隨著時間的推移逐漸跟上步伐 2:44 與他們的 50 2:45 正確的年度增長目標，所以伊隆馬斯克 2:48 特斯拉敏銳地意識到 2:50 正確增長他們的單位銷售額 50 2:53 隨著時間的推移，年復一年 2:55 要求這個總數的增長 2:57 解決市場和關鍵因素 2:59 這樣做是他們將 3:00 通過降低商品成本 3:02 製造效率，這是 3:04 特斯拉前進的重點之一 3:06 前鋒基本上是對的 3:07 製造機器的機器，所以我 3:09 認為特斯拉能夠更快地創新 3:11 比其他擁有製造業的汽車製造商 3:13 這有幾個原因 3:15 第一特斯拉有更少和更大的因素 3:18 對，他們沒有幾十個 3:19 遍布全球數十個國家的工廠 3:21 世界，如果你有的話 3:23 那麼這將是非常困難的權利 3:25 在這些製造上進行創新 3:26 所有工廠的效率 3:28 特斯拉有更少的工廠和更大的 3:30 工廠其實是一大優勢 3:32 下一個特斯拉的車型更少，所以 3:35 它們在很大程度上取決於模型 3 和 3:37 y 型基本上是一個平台 3:39 這實際上是一個巨大的優勢 3:41 因為他們真的可以專注於製作 3:43 該平台可能是最好的 3:45 是和他們實施激進的正義 3:47 不斷創新並做到這一點 3:50 正確的特斯拉號碼的重點 3:52 三輛特斯拉與 3:54 工程和他們的工廠，所以 3:56 工程師們深入參與的不僅僅是 3:58 在創建工廠，但在 4:00 製造機器並創新所有 4:02 正確的進程 4:03 製造經過，這 4:05 特斯拉的緊密集成是 4:07 真的是一個很大的優勢，正確的第四 4:09 特斯拉專注於打造新的 4:10 工廠而不是改造 4:12 現有工廠，這是其中之一 4:15 現有 OEM 面臨的挑戰是 4:17 他們有很多工廠 4:18 世界，然後他們不得不 4:20 改造這些因素很多 4:22 更難的特斯拉能夠啟動 4:24 從頭開始，並有新的 4:26 世代製造權 4:28 新工廠的效率 4:30 好吧，第五個是特斯拉有一個 4:32 更大的緊迫感和使命感 4:34 加速過渡到可持續發展 4:36 能源，這是原因之一 4:38 特斯拉移動得更快，他們擁有更多 4:40 雄心勃勃的目標，是的，他們是 4:42 更快地創新 4:43 製造，因為他們有一個大 4:45 以及一個更重要的理由 4:47 正確的六號特斯拉有能力 4:50 吸引世界上最好的工程師 4:52 因為正確的使命文化 4:55 與特斯拉有關的領導層 4:57 因為他們能夠創新 4:59 製造速度也更快 5:01 七特斯拉正在實施改進 5:03 馬上用他們的車輛，而不是 5:05 而不是像其他人一樣等待模特年 5:07 換句話說，汽車製造商很多 5:09 汽車製造商對，他們有點 5:11 將他們的所有改進與 5:13 模型年份，通常是模型 5:15 改進甚至不是 5:16 對特斯拉來說意義重大 5:18 不斷地實施他們的許多 5:20 每周立即改進 5:22 他們正在改進他們的汽車和什麼 5:24 進入他們的八號車特斯拉 5:26 有緊密的垂直整合，他們 5:29 將在內部採取他們需要的東西 5:30 他們將正確地製造產品 5:32 如果他們能更好地建造它，他們需要這樣做 5:34 更便宜，這有助於 5:36 改進製造和降低 5:38 花費下一個九號特斯拉的推動 5:40 與特斯拉一樣的極限 5:43 Model 3 將低於 4 萬 5:45 美元，這和特斯拉一樣 5:47 未來成本降低意味著特斯拉 5:49 有它的方法 他們會創新嗎 5:51 通過成千上萬的 5:52 接近每一個部分和每一個 5:54 單一進程是公平的遊戲，並且是 5:57 實際上是特斯拉嘗試的目標 5:59 提高其成本效率和 6:01 這種創新的方法是正確的 6:03 通過降低成本和建設 6:05 通過成千上萬的事情變得更好 6:06 不同的方式，這是一種精神 6:08 和核心競爭力之一 6:10 優點我認為特斯拉擁有一切 6:11 好吧，讓我們繼續第二個外賣 6:14 從這張高盛的筆記中，他們說 6:16 特斯拉是贏家 6:17 防通脹法案 ira 所以我們知道 6:20 該法案已通過成為法律 6:22 這裡說報價很多取決於 6:23 政府指導如何 6:25 法律將解釋特斯拉有 6:27 本地製造業高於平均水平 6:29 模型 3 和 y 被認為是 6:30 每個媒體最多的美國製造汽車 6:32 消息來源，我們相信這將是一個 6:34 特斯拉可能會積極 6:35 有資格獲得至少部分學分 6:38 隨著時間的推移，一些車輛和特斯拉可能 6:40 我們認為也可能受益 6:41 來自太陽能電池的激勵措施 6:44 充電和商用車全部 6:45 對，所以美國政府還沒有 6:48 定義 evs 的確切指導方針 6:51 將有資格獲得 6:53 學分讓我們說明年 6:55 我很樂觀，我認為特斯拉會 6:57 成為通貨膨脹的主要贏家 6:58 和減少行為，有幾個 7:00 第一個原因 7:02 特斯拉可以調整他們的原材料 7:04 電池和電池的供應鏈 7:05 比其他汽車製造商更快 7:08 特斯拉的話，因為它們太深了 7:10 與整個電池供應根深蒂固 7:11 連鎖店，他們已經這樣做了很多 7:13 幾年了，他們實際上是採購的 7:15 這些原材料特斯拉能夠移動 7:17 讓我們說有一些材料 7:19 他們需要改變和來源 7:21 一個擁有自由貿易的國家 7:22 與美國達成協議 特斯拉能夠做到 7:24 我認為這比任何其他都快得多 7:26 汽車 oem 那裡第二個特斯拉是 7:29 最綜合的汽車製造商 7:32 這意味著他們採購原材料 7:34 他們正在製造正確的電池 7:36 製造汽車，他們有自己的服務 7:37 他們自己的軟件 fsd 等等 7:39 正因為如此，我認為特斯拉能夠 7:41 調整速度比其他汽車 OEM 快得多 7:44 好吧，第三個，我期待美國 7:46 政府放寬政策 7:48 他們的第一對夫婦的解釋 7:50 年讓汽車製造商有機會 7:52 實現其中一些電動汽車 7:54 學分，我們可能會看到 7:56 正確發布這些指南 7:58 接下來的幾個月左右第四 7:59 特斯拉擁有最高的需求權 8:02 他們的電動汽車等於 8:04 所有定價權的含義 8:06 人們感興趣的電動汽車 8:07 在右邊，特斯拉位居榜首，這是 8:09 特斯拉將受益的另一個原因 8:11 很大程度上來自這些 ev 稅收抵免 8:13 正確的五號特斯拉將獲得額外 8:15 來自政府的學分 8:17 適合他們的電池生產 8:19 儲能太陽能工廠和 8:21 半有實際上有一噸 8:22 有趣的 8:23 可持續能源學分 8:26 特斯拉將有資格獲得併且因為 8:28 特斯拉是一家可持續能源公司 8:30 他們將成為最重要的人之一 8:31 通貨膨脹的大量受益者 8:33 減少行為好吧，那會是什麼 8:35 這裡的結果結果是特斯拉會 8:37 對他們的電動汽車有更高的要求 8:39 因為會有一個更低的 8:41 電動汽車導致的有效消費價格 8:43 稅收抵免因此特斯拉可能會 8:46 不得不提高或調整他們的定價 8:48 滿足這種更高的需求，因為 8:51 更高的定價特斯拉將有 8:53 更高的毛利率 更高的運營 8:55 利潤和更高的利潤，以及所有 8:58 這將在接下來的幾年中實現 9:00 幾年到幾年的分析師和 9:01 投資者將不得不調整 9:03 他們的期望，我認為增加 9:05 他們的估值估計沒問題所以 9:07 有些人可能會問什麼是 9:09 特斯拉股票的最大催化劑 9:10 我認為未來一到兩年 9:13 顯然，特斯拉正在成長 9:15 利潤和利潤快於 9:17 人們期望我認為特斯拉是 9:19 已經在成長的軌道上 9:21 營業利潤率和利潤更快 9:23 比沒有 ev 稅收抵免的預期 9:25 所以這些電動汽車稅收抵免就像 9:27 我想把汽油倒在火上 9:29 特斯拉將擴大這些運營 9:30 利潤率要快得多 9:32 比分析師和投資者正確 9:34 期待第三次外賣 9:36 從這個高盛的筆記是 9:38 電動汽車供應緊張支持更高的價格 9:41 和利潤，所以引用特斯拉認為 9:43 消費者將越來越多地轉向 9:45 evs 類似於其他技術 9:47 例如 crt 到 lcd tvs 的變形 9:50 和功能手機到智能手機，但 9:52 電動汽車行業可能是供應 9:53 受中期約束 9:55 作為新的電池組件供應和 9:57 組裝需要時間來斜坡所以在其他 9:59 即使電動汽車製造商正在嘗試的話 10:02 增加產量 10:04 他們可能會遇到困難，因為 10:05 有一個有限和一個約束 10:07 電池和組件供應 10:09 這裡的元素，所以特斯拉在一個 10:12 有趣的位置，因為他們是 10:13 可能是最積極的保護 10:16 完整的電池供應鏈來自 10:18 原材料等，他們一直在做 10:20 這實際上多年來都是為了 10:22 支持他們正在進行的 50 10:24 同比增長目標和 10:26 最終達到2000萬輛 10:28 10 年內的一年，伊隆馬斯克有 10:30 一直在談論他的特斯拉 10:32 他正在工作的總體規劃第三部分 10:34 這是一個更大更清晰，我 10:37 認為更有說服力的正確總體規劃 10:39 比任何其他汽車製造商都有權 10:42 確保所需的供應鏈 10:44 大幅增加您的電動汽車產量 10:46 在我看來，對於特斯拉，我認為這是 10:47 總體規劃第三部分，儘管它 10:49 還沒有發布我想什麼時候發布 10:51 發布我想我們會看到更多 10:53 雄心勃勃 10:55 汽車製造商結合得很好，所以 10:56 文章以高盛的結尾 10:58 關於特斯拉的投資論文就在這裡 11:00 他說我們相信特斯拉已經 11:03 電動汽車的領導地位，包括其 11:05 垂直整合和緊密耦合 11:07 硬件和軟件及其 11:09 充電站和品牌生態系統 11:11 並專注於清潔交通 11:12 更廣泛地考慮到它的太陽能和存儲 11:15 企業處於有利地位 11:16 利用向電動汽車的長期轉變 11:19 我們預計特斯拉將在 11:21 中期，因為它坡道 11:23 重要的模型範圍的產品以及 11:25 在德國柏林的新工廠和 11:27 德克薩斯州奧斯汀，從長遠來看 11:29 增加這種軟件收入組合 11:31 好吧，我認為這說得好 11:33 高盛分析師馬克·德萊尼 11:34 真的描述了很多積極的一面 11:36 看漲的催化劑和理由 11:38 未來幾年就在特斯拉上 11:41 中期的特斯拉正在走 11:43 正在擴大利潤率，因為他們 11:45 模型 y 坡道，但也因為它們是 11:47 目前正在加速柏林和奧斯汀 11:49 所以我認為接下來的幾個季度 11:51 我們將看到真正的健康 11:53 由於這些因素，利潤率擴大 11:55 以及讓我們說 ev 稅收抵免 11:57 美國那麼長期你有保證金 11:59 由於軟件收入的擴張 12:01 例如 fsd 是完全自動駕駛的 12:03 期權購買權正在增加 12:05 隨著時間的推移和功能的定價 12:07 變得更強大更多的人會採取 12:10 該選項並增加測試 12:12 軟件利潤但是也有 12:14 這個機器人出租車元素，我一直 12:15 這幾天在想這個 12:17 我認為人們是這種機器人出租車 12:19 一般睡在上面 12:21 因為他們看到了正確的錯誤 12:23 假設當前的 fsd beta 驅動器 12:26 但是 fsd beta 已經得到了 12:28 在過去的一年里大大好轉 12:30 自從我把它放在我的車裡我注意到了 12:32 進步的步伐剛剛好 12:34 令人興奮和特斯拉可以做對的事情 12:36 現在在 fsd beta 中想像一下特斯拉的 12:38 將能夠在一兩年內完成 12:41 我非常有信心我認為機器人 12:42 出租車最終的權利釋放不僅僅是 12:45 發布但推出我認為它會繼續 12:47 特斯拉要花幾年時間 12:48 必須累積數十億英里的權利 12:51 數據以說服監管機構 12:54 機器人出租車和機器人出租車安全但一次 12:56 特斯拉能夠做到這一點，這是一個 12:58 全新的產品 13:00 可尋址的市場，這是巨大的權利 13:03 以前是運輸即服務 13:05 汽車製造商的整個市場 13:06 尋址基本上是一個硬件 13:08 市場權利您銷售的車輛硬件 13:10 一次性購買二十三十 13:12 千美元給客戶，然後 13:14 這是銷售的結束，你得到一個低 13:16 以此為基礎，但機器人出租車是什麼 13:18 它是否完全創造了一種新型的 13:21 特斯拉的市場它不只是賣 13:23 假設車輛硬件並獲得 13:25 這是一個持續的利潤 13:27 現在的運輸即服務模式 13:29 這個模型實際上是高利潤 13:31 可持續的，這不僅僅是一次性的 13:32 一次性硬件銷售 13:34 進行中的經常性權利交易 13:36 模型，我認為這實際上是一個很大的 13:38 比一次性模型更有利可圖 13:40 硬件車輛模型，我不認為 13:42 許多分析師將其考慮在內 13:44 他們的價格目標甚至進入他們的 13:46 我認為其中大部分是長期計劃 13:48 採取這種觀望態度，我們將 13:50 看看特斯拉是否曾經發布過機器人出租車 13:53 如果他們當時這樣做是對的 13:55 我們將分析它的潛力和 13:58 它對估值的影響，因此對於那些 14:00 是具有 fsd beta 的早期採用者 14:03 就在跟踪它的車裡 14:05 我認為他們有優勢 14:07 分析和解決，看看特斯拉的 14:09 潛力在這個巨大的 14:11 市場行情快速個人更新 14:13 我在落基山國家公園 14:15 我現在在科羅拉多 14:17 過去一周我玩得很開心 14:19 過去三年和我的家人 14:21 幾個月我們經歷了各種各樣的 14:22 國家公園和州立公園，我們 14:24 慢慢地結束我們的旅行 14:27 在接下來的幾年中返回德克薩斯 14:29 幾週，所以在過去的這個夏天，你已經 14:31 注意到我可能沒有做那麼多 14:33 像我通常做的那樣的視頻和 14:34 這主要是因為我在旅行 14:36 我們正在開車 我們正在檢查 我們正在 14:38 徒步一整天，我決定去 14:39 更多地關注家庭和我的健康 14:42 所以無論如何希望在幾週內我會 14:44 回到德克薩斯州的奧斯汀，它會是 14:46 更容易發布更多視頻和 14:47 實際上採訪了一些人 14:49 我一直想採訪 14:50 你們中的許多人都有最後的個人更新 14:52 一直在關注我關注的一些東西 14:53 一直在與阿富汗合作 14:55 去年一年前我採訪過 14:57 這個頻道有幾個阿富汗學生 14:59 在喀布爾有家人的加拿大人 15:01 當時和接下來的幾週 15:03 我們能夠快速工作並獲得 15:06 喀布爾以外的幾個家庭 15:08 並通過幫助進入巴基斯坦 15:11 幾個捐助者和我自己，我們能夠 15:13 為這些家庭提供津貼 15:16 住在巴基斯坦 15:17 當他們試圖尋找其他 15:19 重新安置機會 15:21 過去一年的課程 我的專業之一 15:23 項目一直試圖幫助這些 15:25 家庭找到離開巴基斯坦的出路 15:27 最好的機會是加拿大 15:30 加拿大有一個很棒的讚助 15:32 難民計劃，他們釋放了 15:34 實際上是阿富汗的一個特殊計劃 15:36 難民，我們一直在努力 15:38 這些家庭加入了這個計劃 15:40 我們能夠上交應用程序獲取 15:43 全額資助，我們一直在等待 15:45 就在加拿大的進程中 15:47 今天早上我了解到其中兩個 15:48 家庭從 15:50 巴基斯坦明天到加拿大他們會 15:53 抵達加拿大不僅僅是難民 15:55 但加拿大會給他們 15:57 永久居留身份和這些 15:59 家庭完整的未來和 16:01 世代的未來將是 16:03 永遠改變了，所以我真的很感激 16:05 有機會參與其中 16:06 過程，我很感謝那些 16:08 真正為此捐款的人 16:10 整個項目並一直在關注 16:12 這個主要捐助者之一是 16:14 埃米特辣椒他很相配 16:16 我用這些捐款很多 16:17 家庭和幫助這些家庭和 16:20 所以人們喜歡埃米特和其他人 16:22 特別感謝並大聲疾呼 16:25 他們 16:25 你在這方面做出了巨大的改變 16:27 不僅是這些家庭的生活， 16:29 他們的後代和許多人 16:31 我希望在未來的幾代人 16:33 未來可能會有更多機會 16:35 像這樣，因為是的，投資和 16:37 賺錢很酷，但什麼是公平的 16:39 更好的是使用正確的資金和 16:41 這些資源使一代人 16:43 影響好吧希望這是 16:44 如果它有很好的喜歡和 16:46 訂閱我所有的視頻可以找到 16:47 一個音頻播客也只是搜索 16:49 戴維談投資你最喜歡的 16:51 播客播放器我也在推特上 16:53 heyday7 好吧，我們會再見的，我的 16:54 下個視頻謝謝
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