<p><img src="https://imageproxy.pbkrs.com/https://invezz.com/wp-content/uploads/2025/12/Tesla-bears.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="1536" height="1024" original-src="https://imageproxy.pbkrs.com/https://invezz.com/wp-content/uploads/2025/12/Tesla-bears.png"/></p>
<p>特斯拉股票在周一下跌，表现不及大盘，投资者正在消化有关公司供应链和监管审查的新动态，尽管该股票今年仍大幅上涨。</p>
<p>特斯拉的股价在午盘交易中下跌约 2%，报 460.92 美元。</p>
<p>大盘也表现疲软，标准普尔 500 指数和道琼斯工业平均指数分别下跌约 0.4% 和 0.3%。</p>
<h2>电池供应协议缩减</h2>
<p>此次回调发生在特斯拉与韩国电池材料制造商 L&amp;F 的供应协议预计价值大幅降低之际。</p>
<p>该协议涵盖从 2024 年 1 月到 2025 年 12 月向特斯拉及其附属公司供应高镍阴极材料，最初估计价值为 29 亿美元。</p>
<p>根据最新披露，该数字现已大幅下调至仅 7386 美元。</p>
<p>这一变化引发了投资者对特斯拉电池采购计划的规模和时机的质疑，尽管公司仍然强调在自动驾驶和人工智能方面的长期投资，而非短期的汽车销量。</p>
<h2>监管审查增加压力</h2>
<p>特斯拉还面临重新审视的监管关注。</p>
<p>美国国家公路交通安全管理局（NHTSA）已对某些 Model 3 车型的紧急门释放装置展开调查。</p>
<p>该调查是基于一位来自乔治亚州的车主的请愿，他声称在紧急情况下机械门释放装置难以找到。</p>
<p>虽然调查仍处于早期阶段，但在特斯拉核心汽车业务因销售下滑和盈利预期下降而面临压力的时刻，这又增加了一层不确定性。</p>
<h2>2025 年特斯拉股票</h2>
<p>尽管周一下跌，特斯拉的股票在年初至今仍上涨约 18%。</p>
<p>这一表现与公司的基本面形成鲜明对比。</p>
<p>盈利预期大幅下调，汽车销量持续下降。</p>
<p>对于 2026 年，华尔街现在预计特斯拉每股收益为 2.17 美元，低于一年前预计的约 4.25 美元。</p>
<p>对于第四季度，分析师预测每股收益约为 44 美分，而去年同期为 73 美分。</p>
<p>汽车交付预期也有所下滑。</p>
<p>第四季度的销售现预计约为 44 万辆，低于一年前的约 49.6 万辆，最近的一些估计接近 41.5 万辆。</p>
<p>然而，这些下降并没有实质性地削弱投资者的热情。</p>
<p>“汽车销量（以及更广泛的基本面）越来越成为次要考虑因素，” 巴克莱的分析师丹·莱维在最近的报告中写道。</p>
<p>莱维表示，特斯拉的股票现在几乎完全由叙事驱动，围绕着自动驾驶出租车、类人机器人（如 Optimus）和人工智能的潜在转折点。巴克莱对该股票的评级为持有，目标价为 350 美元。</p>
<h2>自动驾驶出租车成为焦点</h2>
<p>这些转折点主要与特斯拉的自动驾驶雄心相关。</p>
<p>该公司于 6 月在德克萨斯州奥斯汀推出了一项有限的自动驾驶出租车服务，配备安全监控。去除这些监控被广泛视为一个关键里程碑。</p>
<p>埃隆·马斯克在假期期间激发了乐观情绪，他在 12 月 24 日发布消息称，他在没有安全监控的情况下驾驶了一辆特斯拉自动驾驶出租车。</p>
<p>马斯克此前曾表示，特斯拉的自动驾驶服务最终可能覆盖美国一半的人口，尽管这一时间表随后有所推迟。</p>
<p>尽管如此，Wedbush Securities 的丹·艾夫斯仍然看好。他预计到 2026 年底，特斯拉的自动驾驶出租车将在 30 个城市运营，可能超过目前在五个城市运营的 Waymo。Wedbush 对特斯拉的评级为买入，目标价为 600 美元。</p>
<p>这一进展承载着巨大的期望。特斯拉目前的市盈率约为未来 12 个月预期收益的 220 倍，使其成为标准普尔 500 指数中最昂贵的股票。</p>
<p>下一个最接近的比较是 Palantir Technologies，其市盈率约为未来收益的 190 倍。</p>
<p>本文《为什么特斯拉股票今天下跌约 2%》最初发表于 Invezz 上。</p>

特斯拉

2 倍做空特斯拉 ETF - GraniteShares

2 倍做多特斯拉 ETF - Direxion

2 倍做空特斯拉 ETF - Tradr

XI二南特斯-U

南方两倍做多特斯拉

南方两倍做空特斯拉

2 倍做多 TSLA ETF - GraniteShares

<p>特斯拉股票因供应链问题和监管审查下跌约 2%，至 460.92 美元，尽管年初至今上涨了 18%。一项电池供应协议预计价值的大幅减少引发了投资者对特斯拉电池采购的质疑。此外，美国国家公路交通安全管理局正在调查 Model 3 车型的紧急门释放装置。分析师已下调盈利预期，2026 年的每股收益预期现在为 2.17 美元，低于 4.25 美元。尽管面临这些挑战，一些分析师对特斯拉的未来仍持乐观态度，特别是在其自动驾驶雄心方面</p>

<p><img src="https://imageproxy.pbkrs.com/https://invezz.com/wp-content/uploads/2025/12/Tesla-bears.png" alt="" original-src="https://invezz.com/wp-content/uploads/2025/12/Tesla-bears.png"/></p>
<p>Tesla stock declined on Monday, underperforming the broader market as investors digested fresh developments around the company’s supply chain and regulatory scrutiny, even as the stock remains sharply higher for the year.</p>
<div class="lb-trans"><p>特斯拉股票在周一下跌，表现不及大盘，投资者正在消化有关公司供应链和监管审查的新动态，尽管该股票今年仍大幅上涨。</p>
</div><p>Shares of Tesla were down around 2% at $460.92 in midday trading.</p>
<div class="lb-trans"><p>特斯拉的股价在午盘交易中下跌约 2%，报 460.92 美元。</p>
</div><p>The broader market was also weaker, with the S&amp;P 500 and the Dow Jones Industrial Average down roughly 0.4% and 0.3%, respectively.</p>
<div class="lb-trans"><p>大盘也表现疲软，标准普尔 500 指数和道琼斯工业平均指数分别下跌约 0.4% 和 0.3%。</p>
</div><h2>Battery supply deal scaled back</h2>
<div class="lb-trans"><h2>电池供应协议缩减</h2>
</div><p>The latest pullback comes as Tesla’s supply agreement with South Korean battery materials maker L&amp;F saw a dramatic reduction in its projected value.</p>
<div class="lb-trans"><p>此次回调发生在特斯拉与韩国电池材料制造商 L&amp;F 的供应协议预计价值大幅降低之际。</p>
</div><p>The deal, which covers the supply of high-nickel cathode materials to Tesla and its affiliates from January 2024 through December 2025, was initially estimated to be worth $2.9 billion.</p>
<div class="lb-trans"><p>该协议涵盖从 2024 年 1 月到 2025 年 12 月向特斯拉及其附属公司供应高镍阴极材料，最初估计价值为 29 亿美元。</p>
</div><p>That figure has now been revised sharply lower to just $7,386, according to updated disclosures.</p>
<div class="lb-trans"><p>根据最新披露，该数字现已大幅下调至仅 7386 美元。</p>
</div><p>The change has raised questions among investors about the scale and timing of Tesla’s battery procurement plans, even as the company continues to emphasise long-term investments in autonomy and artificial intelligence rather than near-term vehicle volumes.</p>
<div class="lb-trans"><p>这一变化引发了投资者对特斯拉电池采购计划的规模和时机的质疑，尽管公司仍然强调在自动驾驶和人工智能方面的长期投资，而非短期的汽车销量。</p>
</div><h2>Regulatory scrutiny adds to pressure</h2>
<div class="lb-trans"><h2>监管审查增加压力</h2>
</div><p>Tesla is also facing renewed regulatory attention.</p>
<div class="lb-trans"><p>特斯拉还面临重新审视的监管关注。</p>
</div><p>The National Highway Traffic Safety Administration, or NHTSA, has opened an investigation into emergency door releases on certain Model 3 vehicles.</p>
<div class="lb-trans"><p>美国国家公路交通安全管理局（NHTSA）已对某些 Model 3 车型的紧急门释放装置展开调查。</p>
</div><p>The probe follows a petition from a Georgia-based owner who alleged that the mechanical door release can be difficult to locate during emergency situations.</p>
<div class="lb-trans"><p>该调查是基于一位来自乔治亚州的车主的请愿，他声称在紧急情况下机械门释放装置难以找到。</p>
</div><p>While the investigation is at an early stage, it adds another layer of uncertainty at a time when Tesla’s core automotive business is already under pressure from falling sales and declining earnings expectations.</p>
<div class="lb-trans"><p>虽然调查仍处于早期阶段，但在特斯拉核心汽车业务因销售下滑和盈利预期下降而面临压力的时刻，这又增加了一层不确定性。</p>
</div><h2>Tesla stock in 2025</h2>
<div class="lb-trans"><h2>2025 年特斯拉股票</h2>
</div><p>Despite Monday’s decline, Tesla shares were still up about 18% year to date heading into the session.</p>
<div class="lb-trans"><p>尽管周一下跌，特斯拉的股票在年初至今仍上涨约 18%。</p>
</div><p>That performance stands in stark contrast to the company’s underlying fundamentals.</p>
<div class="lb-trans"><p>这一表现与公司的基本面形成鲜明对比。</p>
</div><p>Earnings estimates have fallen sharply, and vehicle sales continue to trend lower.</p>
<div class="lb-trans"><p>盈利预期大幅下调，汽车销量持续下降。</p>
</div><p>For 2026, Wall Street now expects Tesla to generate earnings per share of $2.17, down from roughly $4.25 projected a year ago.</p>
<div class="lb-trans"><p>对于 2026 年，华尔街现在预计特斯拉每股收益为 2.17 美元，低于一年前预计的约 4.25 美元。</p>
</div><p>For the fourth quarter, analysts forecast EPS of about 44 cents, compared with 73 cents in the same period last year.</p>
<div class="lb-trans"><p>对于第四季度，分析师预测每股收益约为 44 美分，而去年同期为 73 美分。</p>
</div><p>Vehicle delivery expectations have also slid.</p>
<div class="lb-trans"><p>汽车交付预期也有所下滑。</p>
</div><p>Fourth-quarter sales are now estimated at around 440,000 vehicles, down from approximately 496,000 a year ago, with some of the most recent estimates drifting closer to 415,000 units.</p>
<div class="lb-trans"><p>第四季度的销售现预计约为 44 万辆，低于一年前的约 49.6 万辆，最近的一些估计接近 41.5 万辆。</p>
</div><p>Yet those declines have not materially dented investor enthusiasm.</p>
<div class="lb-trans"><p>然而，这些下降并没有实质性地削弱投资者的热情。</p>
</div><p>“Auto volumes (and broader fundamentals) have increasingly become an afterthought,” wrote Dan Levy, an analyst at Barclays, in a recent report.</p>
<div class="lb-trans"><p>“汽车销量（以及更广泛的基本面）越来越成为次要考虑因素，” 巴克莱的分析师丹·莱维在最近的报告中写道。</p>
</div><p>Levy said Tesla’s stock is now being driven “almost exclusively by narrative,” centred on potential inflection points in robo-taxis, humanoid robots such as Optimus, and artificial intelligence. Barclays rates the stock Hold and has a $350 price target.</p>
<div class="lb-trans"><p>莱维表示，特斯拉的股票现在几乎完全由叙事驱动，围绕着自动驾驶出租车、类人机器人（如 Optimus）和人工智能的潜在转折点。巴克莱对该股票的评级为持有，目标价为 350 美元。</p>
</div><h2>Robotaxis take centre stage</h2>
<div class="lb-trans"><h2>自动驾驶出租车成为焦点</h2>
</div><p>Those inflection points are largely tied to Tesla’s autonomous driving ambitions.</p>
<div class="lb-trans"><p>这些转折点主要与特斯拉的自动驾驶雄心相关。</p>
</div><p>The company launched a limited robo-taxi service in Austin, Texas, in June, operating with safety monitors. Removing those monitors is widely viewed as a key milestone.</p>
<div class="lb-trans"><p>该公司于 6 月在德克萨斯州奥斯汀推出了一项有限的自动驾驶出租车服务，配备安全监控。去除这些监控被广泛视为一个关键里程碑。</p>
</div><p>Elon Musk fueled optimism over the holidays, posting on Dec. 24 that he had driven in a Tesla robo-taxi without a safety monitor.</p>
<div class="lb-trans"><p>埃隆·马斯克在假期期间激发了乐观情绪，他在 12 月 24 日发布消息称，他在没有安全监控的情况下驾驶了一辆特斯拉自动驾驶出租车。</p>
</div><p>Musk has previously suggested that Tesla’s autonomous service could eventually reach half the US population, though that timeline has since slipped.</p>
<div class="lb-trans"><p>马斯克此前曾表示，特斯拉的自动驾驶服务最终可能覆盖美国一半的人口，尽管这一时间表随后有所推迟。</p>
</div><p>Still, Dan Ives of Wedbush Securities remains bullish. He expects Tesla robo-taxis to be operating in 30 cities by the end of 2026, potentially surpassing Waymo, which currently operates in five cities. Wedbush rates Tesla Buy with a $600 price target.</p>
<div class="lb-trans"><p>尽管如此，Wedbush Securities 的丹·艾夫斯仍然看好。他预计到 2026 年底，特斯拉的自动驾驶出租车将在 30 个城市运营，可能超过目前在五个城市运营的 Waymo。Wedbush 对特斯拉的评级为买入，目标价为 600 美元。</p>
</div><p>A great deal is riding on that progress. Tesla now trades at roughly 220 times estimated earnings over the next 12 months, making it the most expensive stock in the S&amp;P 500.</p>
<div class="lb-trans"><p>这一进展承载着巨大的期望。特斯拉目前的市盈率约为未来 12 个月预期收益的 220 倍，使其成为标准普尔 500 指数中最昂贵的股票。</p>
</div><p>The next closest comparison is Palantir Technologies, which trades at around 190 times forward earnings.</p>
<div class="lb-trans"><p>下一个最接近的比较是 Palantir Technologies，其市盈率约为未来收益的 190 倍。</p>
</div><p>The post Why Tesla stock is down around 2% today appeared first on Invezz</p>
<div class="lb-trans"><p>本文《为什么特斯拉股票今天下跌约 2%》最初发表于 Invezz 上。</p>
</div>

Why Tesla stock is down around 2% today

- 特斯拉股票周一下跌约 2%，至 460.92 美元，低于大盘表现。  
- 供应协议价值大幅下调，从 29 亿美元修订至 7386 美元，引发投资者担忧。  
- NHTSA 正在调查特斯拉 Model 3 的紧急门释放问题，增加了不确定性。

为什么特斯拉的股票今天下跌了约 2%