In 2024, Tesla (TSLA) ’s electric vehicle deliveries fell for the first time in the company’s 21-year history. But according to CEO Elon Musk, that’s no cause for concern because Tesla’s future is all about A.I. and other non-automobile businesses. And investors seem to buy the argument—for now.

The robotaxi service Musk said will launch in June will likely be distinct from the purpose-built “Cybercab” vehicles that it touted at a splashy LA event in October. Tesla said at the time that it would aim to start manufacturing its Cybercab—which won’t have a steering wheel or pedals—sometime before 2027.

Despite potential in robotaxis and AI, Tesla's Q4 financials showed significant misses. Click here to read what justifies TSLA stock a Sell.

As one of the foremost electric vehicle companies in the world, Tesla continues to be an important company to watch in tech, but its Q4 2024 didn’t bring as good of news as investors might have expected. The company put out its latest earnings results, and with it came a miss on both revenue and earnings-per-share (EPS) versus analyst expectations.

Tesla said it sold 1.79 million vehicles in 2024, the first drop in more than a dozen years despite offers of 0% financing, free charging and low-priced leases