Tesla reports 486,532 vehicle deliveries for third quarter, topping expectations

AND BY THE WAY, THERE HAVE BEEN TIMES WHEN HE'S TUSSLED AND SAID, LISTEN, NVIDIA IS TOO EXPENSIVE. WELL, HE IS COMPLETELY CAPITULATED. HE'S AN NVIDIA HOUSE AND THERE'S NOBODY BETTER THAN HIM. >> THIS IS. >> THIS IS TRUE. AND SPEAKING OF MUSK, WE ARE GETTING SOME TESLA DELIVERY NUMBERS THIS MORNING. FOR THAT WE'LL TURN TO DOM CHU. HEY DOM. >> GOOD MORNING CARL. GOOD MORNING JIM. SO RIGHT NOW THOSE TESLA Q3Q3 DELIVERY NUMBERS COMING IN AT 486,532 IN JULY TO SEPTEMBER. PERIOD. THAT DID TOP ANALYST ESTIMATES FOR ROUGHLY 457,000. TESLA SAID IT EXITED THE SECOND QUARTER WITH THE LARGEST ORDER BACKLOG GOING BACK TO 2023. SO THE NUMBERS SPECIFICALLY FOR 86. 532 THAT BEATS THE DELIVERY NUMBER FROM LAST QUARTER, WHICH WAS 480,000 AND CHANGE, AND IT TOPPED CONSENSUS ESTIMATES FROM BOTH TESLA PROVIDED CONSENSUS AND THE FACTSET CONSENSUS AS WELL. WE ARE WATCHING THOSE SHARES ARE CURRENTLY UP ABOUT JUST NORTH OF 2%. AND CURRENTLY, AGAIN, THE NARRATIVE IS SHIFTING AROUND MAYBE ANALYSTS ON CONSENSUS. JUST TO GIVE YOU SOME CONTEXT, CARL AND JIM, THE CONSENSUS RIGHT NOW IS A 376 TARGET PRICE PER FACTSET, WHICH IS 6% UPSIDE FROM CURRENT LEVELS. AND JUST AROUND 44% OF ANALYSTS HAVE A BUY RATING AND 46% HAVE A HOLD. SO THAT'S HOW ALL OF THIS SETS UP. GIVEN THE BACKDROP OF THAT. Q THROUGH DELIVERY NUMBER, CARL, I'LL SEND THINGS BACK OVER TO YOU. >> WELL, LOOK, IT'S GOOD TO SEE THAT THAT WHEN GASOLINE GOES UP A LOT, PEOPLE THINK THAT MAYBE IT'S A BARGAIN TO GET ELECTRIC. I ALSO THINK REMEMBER I SAY BUY TESLA BECAUSE I THINK SPACEX IS GREAT. BY THE WAY, SPACEX, I SHOULD HAVE MENTIONED WHEN I WAS QUOTING THOSE COLOSSUS THAT SPACEX SENT LENDING AND CHARGING PEOPLE FOR COMPUTE. YES, THEY HAVE MORE COMPUTE. SO YOU'VE GOT THE SPACEX COULD, I THINK, COULD HAVE AN EXPLOSION IN EARNINGS. AND IT WOULD BE A TERRIFIC MOVE TO BUY TESLA WHEN THAT HAPPENS. >> THAT'S THAT'S A GOOD NUMBER ON TESLA. IT'S STILL I MEAN ESSENTIALLY WHAT BYD DID IN A SINGLE MONTH. >> I KNOW I YEAH I MEAN I LOOKED AT BYD LAST WEEK IN ITALY AND I MEAN THAT LOOKS LIKE A $60,000 CAR. I MEAN WHAT CAN I SAY? OBVIOUSLY THE SUICIDAL NATURE OF EUROPE IS INCREDIBLE. >> YEAH. >> AND THEN OF COURSE WE GOT GM YESTERDAY, JIM, WHERE EVS I THINK WERE DOWN BY HALF. I MEAN THE TOUGH COMPS AHEAD OF THAT TAX CREDIT EXPIRATION. >> YEAH. I MEAN BUT LOOK IT'S YOU LOOK AT FORD'S PRICE. YOU LOOK AT STELLANTIS. YOU LOOK AT GM. I I FOR ME THE QUESTION ANY NUMBER THAT GM PUTS OUT IS WRONG. THEY'RE REALLY MARY BARRA IS NOT PROMOTIONAL. I'M PROMOTIONAL FOR MARY BARRA. SHE'S REMARKABLE. >> TAKE A LOOK AT THE PRE MARKET HERE. OBVIOUSLY A LOT OF CROSSCURRENTS THIS MORNING AS WE WORK OUR WAY THROUGH THE MACRO AND THAT DISAPPOINTING JOBS NUMBER. ALTHOUGH THE FED