Tesla forecast to surpass combined value of Apple, Saudi Aramco: Elon Musk

Elon Musk, CEO of Tesla

Elon Musk, CEO of Tesla, said his electric vehicle company could become more valuable than the world's two largest companies, Apple and Saudi Aramco.

 

However, market experts believe that this will not be so fast, Bloomberg reported.

 

Tesla's market value stands at nearly $650 billion, while the market values of Apple and Saudi Aramco reach $2.3 trillion and $2.1 trillion, respectively.

 

Musk expects recession to continue until Spring 2024.

 

The electric vehicle maker posted lower-than-expected revenue and profit margins for Q3 2022, which were attributed by Musk to worries about demand in China and Europe.

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