global economy

Top 10 predictions in 2021: “Tesla will be the next AOL” From Wells Fargo Bank

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The following is the Top 10 predictions in 2021: “Tesla will be the next AOL” From Wells Fargo Bank recommended by recordtrend.com. And this article belongs to the classification: global economy .

Chris Harvey, head of equity strategy at Wells Fargo securities, released the bank’s top 10 financial market forecasts for next year, with Tesla likely to be the next AOL at the top of the list.

“It reminds us of 1998 – the late 1990s.” He said in an interview, “AOL at that time was similar to Tesla today. It had the technology to change the rules of the game and had incredible performance. After experiencing an amazing rise, AOL was included in the S & P 500 index at the end of December 1998. But this is a far-reaching event. “

But soon, because of failing to keep up with the rapid development of science and technology, the former king of media (AOL) could only watch his influence collapse in the river of time. Harvey warned that Tesla could suffer a similar fate. At the time of his warning, apple is seeking to launch its own autopilot car in 2024, which is higher than Tesla.

“After 1999, many technology and growth companies lost 50% to 100% of their value,” he added. “We believe that by 2020, everything is accelerating. So if it used to take 12 months to close, it’s only six months now. “

So far this year, Tesla’s share price has soared nearly 700%. The company’s record rise prompted the bank to warn customers not to bet on growth stocks at any cost. Harvey believes that the winners of next year’s stock market will be very different from those of 2020: investors begin to lose interest in growth stocks and momentum stocks, as the recovery of growth makes the economic sensitive sectors popular.

“They need to start focusing on cyclical stocks. They need to start thinking about adding more epidemic hit companies to their portfolios. The old economy, not the new economy. ” He added that the downturn in 2020 was similar to 2003 and 2009, when investors were chasing growth stocks.

Wells Fargo: survey shows that 20% of millennials in the United States say they will never invest in the stock market Wells Fargo & Gallup: small business index in the third quarter of 2018 FactSet: Tesla’s market value reached $48.7 billion in April 2017 Surpassing Ford to become the second largest automobile manufacturer in the United States, Tesla’s market value exceeds the sum of the nine largest automobile manufacturers Automatic driving average 7 million 380 thousand kilometers per trip reported an accident Tesla: as of November 2020 Tesla’s mainland China Super charging station reached 490 in August 2020, Germany’s best-selling electric vehicle is Tesla Model 3CNCDA: it is estimated that in the first half of 2020, Tesla sales in the US 87 thousand and 500 to 94 thousand vehicles in December 2019 Holland Tesla Model 3 sales volume of 11563 vehicles China Automotive Industry Information Network: in November 2019, China registered 5597 Tesla vehicles. In 2019, Tesla surpassed BYD to become the world’s largest electric vehicle manufacturer Piper Jaffray: from July to August 2019, Tesla’s delivery volume in China increased 175% year on year

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