Morgan Stanley interprets the "Temasek" dispute: Musk carefully designed it, and the market underestimated his ability

最新报道:When the world's richest man and the US president clashed across social media, the capital market smelled unusual signals. According to the trading desk, Morgan Stanley's latest report revealed that this seemingly sudden "Tesla-Ma dispute" was actually a carefully designed strategy by Musk to achieve specific goals and gain attention. He believes that the fate of a company is ultimately closely related to the country's overall financial strength. The market obviously underestimated Musk's determination and ability to withstand negative shocks. Tesla's stock price decline may be just a temporary "sacrifice." The Wall Street giant warned investors that if Musk's differences with the president continue to escalate, Tesla's stock price will face more drastic fluctuations, but it will also create a large number of trading opportunities. Analysts maintain their judgment that Tesla is the "preferred stock" in the US auto sector, with a target price of $410, and are optimistic about its long-term prospects in the field of physical AI. Musk's careful layout In a report released on June 10, Morgan Stanley's auto team rarely included Musk's political actions in the Tesla investment framework analysis. Morgan Stanley analyst Adam Jonas pointed out that Musk's recent remarks on the US "twin deficits" (budget deficit and debt) were by no means improvisation. Last week's "Tesla-Ma dispute" was likely a carefully planned strategy by Musk to achieve a specific goal, aiming to put related issues at the forefront of public attention through his influence. Analysts interpreted that the US credit outlook and fiscal situation, including budget deficits, national debt and other issues, seem to have risen to the top priority of Tesla's CEO. Morgan Stanley believes that Musk believes that no matter how successful companies such as Tesla and SpaceX are at the individual level, these companies are ultimately closely related to the country's overall fiscal strength. Musk likened the US sovereign credit to a "ship on the sea", pointing out that the country's fiscal health is the ultimate anchor for corporate development. $300 billion "ammunition depot": underestimated influence In its report, Morgan Stanley particularly emphasized a key factor that has been overlooked by the market: Musk has $300 billion to $350 billion in assets (including public and private assets). He can leverage national policy discussions with a very small portion of his assets. Morgan Stanley raised a question: How much attention and support can $5 billion or $10 billion bring to issues that Musk considers important? This financially strong background makes every public statement of Musk have influence and sustainability beyond that of ordinary entrepreneurs. Analysts believe that history is telling investors that they may have underestimated Musk's determination again and his resilience to criticism and financial losses. Jonas reminded investors in the report to look back on history: Remember the collective skepticism of the market when Musk acquired a social media company (Twitter) a few years ago? Remember the frustration when he began to obviously invest resources in the political field? According to Morgan Stanley's analysis, the negative impact of Musk's participation in political activities on Tesla's products and brands is a short-term "sacrifice", which will not be a surprise to the company's management. Trading opportunities in volatility Morgan Stanley warned that if the confrontation between Musk and Trump continues to escalate, the volatility of Tesla's stock will be further amplified, but the sharp fluctuations will also give rise to "a series of trading opportunities." It is worth noting that Musk currently manages 5 companies (Tesla, SpaceX, Boring, Neuralink, xAI), he controls 4 of them privately, but only holds 13% of the shares in Tesla, the only public company (excluding controversial compensation packages). Morgan Stanley believes that Tesla's expertise in manufacturing, data collection, robotics/physical AI, energy, supply chain and infrastructure is more important than ever for the United States to remain competitive with other countries in the field of embodied AI. Maintain "preferred stock" rating Despite the political risks, Morgan Stanley still maintains Tesla as the "preferred stock" in the US automotive sector, with a target price of $410 (33% upside from the closing price of $308.58 on June 9). The investment bank said that its overweight rating and price target are based on confidence in Tesla's capabilities in key areas of physical AI, including autonomous vehicles, humanoid robots and other form factors, covering data, robotics, energy storage, computing, manufacturing and space/communications/networks/infrastructure. These growth and profit opportunities far exceed those of the traditional electric vehicle business. As each business further expands, Morgan Stanley expects the time for strategic cross-collaboration between different entities is approaching: Grok entering automobiles, SpaceX loading Cybertruck, Optimus prosthetics for Neuralink patients, xAI training in Optimus and Cybercab, etc. The possibilities are abundant.

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