New Street Research analyst says Tesla FSD is nearing its iPhone moment — "give us two more quarters"
New Street Research analyst Pierre Ferragu says Tesla's FSD is approaching an <em>'iPhone moment'</em> — "a Tesla is not a car, the same way an iPhone was not a phone," he said, expecting market perception to shift within the next two quarters.
Wall Street's Tesla debate split this week between caution (Citizens, Barron's) and optimism (UBS's price-target hike), and New Street Research's Pierre Ferragu weighed in on the bullish side, grounding his case in FSD.
Ferragu argued "a Tesla is not a car, the same way an iPhone was not a phone," comparing FSD to the iPhone's early days, when its high price tag seemed steep for 'just a phone' before the market realized it was something more.
He said Tesla is nearing an inflection point but didn't specify what exactly would change, only asking investors to "give us two more quarters" to see where things are heading.
A longtime Tesla-covering analyst, Ferragu's framing stands in contrast to Citizens and Barron's caution on Robotaxi and Optimus valuations this same week, putting his weight instead behind FSD's long-term potential ahead of the July 22 Q2 earnings report.
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