The valuation of Tesla also seems very high to me at first, but given their growth in the other segments such as energy storage and generation, I absolutely think that the valuation could be justified.
Tesla owns the entire vertical from battery cell manufacturing, using those cells to do work (automotive), home and grid energy storage, and solar generation. Throw in the rest of Elon’s companies and you also get the transportation network itself (Boring) and even the data provider for these cars that need to be highly connected (Starlink). And if you really want to believe Elon, some weird, someday a pressurized version of the Cybertruck might become the transportation off of this planet.
