Dan Ives on Tesla stocks: A big step in the right direction

Introducing fellow Espresso Series one. >> WELCOME BACK TO CLOSING BELL. TESLA SHARES ARE ON THE RISE TODAY AFTER THIRD QUARTER DELIVERIES. THEY BEAT EXPECTATIONS. HERE TO BREAK DOWN WHAT TO WATCH FROM THE AUTOMAKER GOING FORWARD IS YORKVILLE IVES COPARTNER AND SENIOR MANAGING DIRECTOR DAN IVES HIMSELF. DAN GOOD TO SEE YOU. >> GREAT TO SEE YOU FRANK. >> ALL RIGHT TESLA SHARES MOVING HIGHER ON THIS DELIVERY. BEAT. ONE PART OF THIS BEAT THAT I THOUGHT WAS INTERESTING. THE MODEL THREE THE MODEL Y 98% OF DELIVERIES. IS THAT AN ISSUE FOR THIS COMPANY. >> I MEAN THAT'S GOING TO CONTINUE TO REALLY BE THE GROWTH STORY FOR TESLA GOING FORWARD. BUT IT'S REALLY ABOUT THE EUROPEAN BOUNCE BACK. I MEAN THIS IS A SIGH OF RELIEF FOR INVESTORS. YOU GO BACK TO THE LAST FEW YEARS OF DECLINES. YOU FINALLY SEE GROWTH THIS YEAR. AND I BELIEVE IT'S A BIG STEP IN THE RIGHT DIRECTION FOR TESLA IN TERMS OF WHAT WE SAW RIGHT HERE. >> WHAT ABOUT THE CYBERTRUCK? I THOUGHT THAT WAS SUPPOSED TO BE A PRODUCT THAT WAS SUPPOSED TO KIND OF TAKE TESLA TO THE NEXT LEVEL. OBVIOUSLY A BIGGER VEHICLE WITH UTILITY SIMILAR TO A PICKUP TRUCK. WHAT'S GOING ON WITH ADOPTION OF THAT? >> LOOK, I MEAN, THEY STILL SAW A STRENGTH IN TERMS OF CYBERTRUCK OVER THE LAST YEAR, BUT THE REALITY IS, GIVEN THE HIGH END PART OF THE MARKET, IT'S NOT GOING TO SIGNIFICANTLY MOVE THE NEEDLE FROM A DEMAND PERSPECTIVE. I THINK GOING FORWARD, AS YOU GO INTO 2027, THE QUESTION IS, DO YOU ACTUALLY HAVE A NEW MODEL RELEASED? AND THEN FOR THE STOCK, IT ALL COMES DOWN TO ROBOTAXIS. AUTONOMOUS OPTIMIST. I MEAN THIS IS ESSENTIALLY A COMPANY TRANSITIONING FROM EV PLAYER INTO WHAT I VIEW AS REALLY A TRUE AI PLAYER. AND RIGHT NOW THIS IS SORT OF THAT, THAT SORT OF TIME IN BETWEEN WHERE YOU'RE SEEING THE STOCK REFLECT. THE INVESTORS ARE WAITING TO SEE SUCCESS. >> OKAY. SO YOU'RE SAYING IT'S THE TIME IN BETWEEN THAT IMPLIES THAT YOU HAVE A SENSE OF WHEN OPTIMUS IS GOING TO BE OUT HERE ROLLED OUT IN THESE HUMANOID ROBOTS ARE GOING TO BE ROLLED OUT. DO YOU HAVE A TIMELINE? I HAVEN'T SEEN A VERY CLEAR ONE. AND OBVIOUSLY WE KNOW THAT ELON MUSK, HE OFTEN SETS A DATE AND THEN PUSHES IT BACK, SOMETIMES ONE, SOMETIMES SEVERAL TIMES. >> YEAH. I THINK 2027. I MEAN, CALL IT EARLY TO MIDDLE PART OF THE YEAR. THE BIG THING IS GOING TO BE ABOUT THE ROBOTAXI LAUNCHES BECAUSE SO FAR IT'S BEEN SLOWER OUT OF THE GATE. A LOT OF THAT BECAUSE OF REGULATORY AS YOU HAVE ROBOTAXI IN THE AUTONOMOUS STORY TAKE HOLD. I THINK OPTIMUS IS A SECOND HALF OF THE YEAR GOING INTO NEXT YEAR. AND THAT'S 2027 I THINK COULD BE A GOLDEN YEAR FOR TESLA. AND WE CONTINUE TO BELIEVE, YOU KNOW, BY THE END OF THE YEAR, NEXT YEAR, IT'S VERY POSSIBLE, OVER AN 80% CHANCE THAT SPACEX AND TESLA ULTIMATELY WALK DOWN THE AISLE. >> A LITTLE MARRIAGE THERE. WELL, I WANT TO GET SOME OTHER TECH STORIES, BUT VERY QUICKLY, WHEN YOU'RE TALKING ABOUT THE ROBOTAXI BUSINESS LAUNCHING NEXT YEAR, IS IT STANDALONE? IS IT WITH A PARTNER? HOW DOES THAT ALL WORK? >> IT'S REALLY NOW I MEAN THIS IS ABOUT SCALE BECAUSE AS YOU GO TO MORE AND MORE CITIES, IT'S THAT THEN WHEN YOU ACTUALLY GET TO THE CYBER CAB LAUNCH, WHEN DOES THIS ACTUALLY TAKE THE STORY TO THE NEXT LEVEL? I THINK THAT'S WHAT INVESTORS ARE WAITING FOR. I THINK RIGHT NOW, THIS IS SORT OF THE APPETIZER TO WHAT'S REALLY GOING TO BE A KEY YEAR FOR TESLA AS YOU GO IN 2027. BUT IN TERMS OF WHAT WE SAW IN THE DEMAND SIDE, DEMAND STABILIZING, AND THAT'S IMPORTANT. IT SETS THE STAGE FOR, I THINK, WHAT COULD BE A VERY, VERY STRONG YEAR. >> ALL RIGHT. I WANT TO TALK ABOUT THE BROADER MARKETS. THE NASDAQ POSSIBLY ON PACE FOR A RECORD CLOSE. NVIDIA AND AMD ALSO HITTING ALL TIME HIGHS. WHAT IS YOUR TAKE ON THIS. WHY ARE WE SEEING SUCH BULLISHNESS. IS IT SIMPLY THAT BOND YIELDS PULL BACK SLIGHTLY. OR IS THERE SOMETHING ELSE AT PLAY TODAY? >> I THINK IT'S ALSO IF YOU LOOK AT MICRON AND YOU LOOK AT THE READ THROUGH THROUGH THE ASIA SUPPLY CHAIN, THE REALITY IS WE'RE GOING TO BE GOING INTO AN EARNINGS SEASON THAT'S GOING TO SEE ROBUST EARNINGS I THINK ACROSS THE BOARD FOR TECH FROM HYPERSCALERS TO CHIPS AND OTHERS. AND RIGHT NOW IT'S 13 TO 1 DEMAND SUPPLY FOR CHIPS. AND YOU'VE SEEN IT WITH NVIDIA. YOU SAW WITH AMD. I THINK INVESTORS CONTINUE TO UNDERESTIMATE THE SCALE AND SCOPE OF THIS AI REVOLUTION. STILL THIRD INNING DESPITE SOME OF THE JITTERS NERVOUSNESS OIL AND TEN YEAR.