<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>特斯拉股票在週一下跌，表現不及大盤，投資者正在消化有關公司供應鏈和監管審查的新動態，儘管該股票今年仍大幅上漲。</p>
<p>特斯拉的股價在午盤交易中下跌約 2%，報 460.92 美元。</p>
<p>大盤也表現疲軟，標準普爾 500 指數和道瓊斯工業平均指數分別下跌約 0.4% 和 0.3%。</p>
<h2>電池供應協議縮減</h2>
<p>此次回調發生在特斯拉與韓國電池材料製造商 L&amp;F 的供應協議預計價值大幅降低之際。</p>
<p>該協議涵蓋從 2024 年 1 月到 2025 年 12 月向特斯拉及其附屬公司供應高鎳陰極材料，最初估計價值為 29 億美元。</p>
<p>根據最新披露，該數字現已大幅下調至僅 7386 美元。</p>
<p>這一變化引發了投資者對特斯拉電池採購計劃的規模和時機的質疑，儘管公司仍然強調在自動駕駛和人工智能方面的長期投資，而非短期的汽車銷量。</p>
<h2>監管審查增加壓力</h2>
<p>特斯拉還面臨重新審視的監管關注。</p>
<p>美國國家公路交通安全管理局（NHTSA）已對某些 Model 3 車型的緊急門釋放裝置展開調查。</p>
<p>該調查是基於一位來自喬治亞州的車主的請願，他聲稱在緊急情況下機械門釋放裝置難以找到。</p>
<p>雖然調查仍處於早期階段，但在特斯拉核心汽車業務因銷售下滑和盈利預期下降而面臨壓力的時刻，這又增加了一層不確定性。</p>
<h2>2025 年特斯拉股票</h2>
<p>儘管週一下跌，特斯拉的股票在年初至今仍上漲約 18%。</p>
<p>這一表現與公司的基本面形成鮮明對比。</p>
<p>盈利預期大幅下調，汽車銷量持續下降。</p>
<p>對於 2026 年，華爾街現在預計特斯拉每股收益為 2.17 美元，低於一年前預計的約 4.25 美元。</p>
<p>對於第四季度，分析師預測每股收益約為 44 美分，而去年同期為 73 美分。</p>
<p>汽車交付預期也有所下滑。</p>
<p>第四季度的銷售現預計約為 44 萬輛，低於一年前的約 49.6 萬輛，最近的一些估計接近 41.5 萬輛。</p>
<p>然而，這些下降並沒有實質性地削弱投資者的熱情。</p>
<p>“汽車銷量（以及更廣泛的基本面）越來越成為次要考慮因素，” 巴克萊的分析師丹·萊維在最近的報告中寫道。</p>
<p>萊維表示，特斯拉的股票現在幾乎完全由敍事驅動，圍繞着自動駕駛出租車、類人機器人（如 Optimus）和人工智能的潛在轉折點。巴克萊對該股票的評級為持有，目標價為 350 美元。</p>
<h2>自動駕駛出租車成為焦點</h2>
<p>這些轉折點主要與特斯拉的自動駕駛雄心相關。</p>
<p>該公司於 6 月在德克薩斯州奧斯汀推出了一項有限的自動駕駛出租車服務，配備安全監控。去除這些監控被廣泛視為一個關鍵里程碑。</p>
<p>埃隆·馬斯克在假期期間激發了樂觀情緒，他在 12 月 24 日發佈消息稱，他在沒有安全監控的情況下駕駛了一輛特斯拉自動駕駛出租車。</p>
<p>馬斯克此前曾表示，特斯拉的自動駕駛服務最終可能覆蓋美國一半的人口，儘管這一時間表隨後有所推遲。</p>
<p>儘管如此，Wedbush Securities 的丹·艾夫斯仍然看好。他預計到 2026 年底，特斯拉的自動駕駛出租車將在 30 個城市運營，可能超過目前在五個城市運營的 Waymo。Wedbush 對特斯拉的評級為買入，目標價為 600 美元。</p>
<p>這一進展承載着巨大的期望。特斯拉目前的市盈率約為未來 12 個月預期收益的 220 倍，使其成為標準普爾 500 指數中最昂貴的股票。</p>
<p>下一個最接近的比較是 Palantir Technologies，其市盈率約為未來收益的 190 倍。</p>
<p>本文《為什麼特斯拉股票今天下跌約 2%》最初發表於 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

南方兩倍做多特斯拉

南方兩倍做空特斯拉

2 倍做多 TSLA ETF - GraniteShares

<p>特斯拉股票因供應鏈問題和監管審查下跌約 2%，至 460.92 美元，儘管年初至今上漲了 18%。一項電池供應協議預計價值的大幅減少引發了投資者對特斯拉電池採購的質疑。此外，美國國家公路交通安全管理局正在調查 Model 3 車型的緊急門釋放裝置。分析師已下調盈利預期，2026 年的每股收益預期現在為 2.17 美元，低於 4.25 美元。儘管面臨這些挑戰，一些分析師對特斯拉的未來仍持樂觀態度，特別是在其自動駕駛雄心方面</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>特斯拉股票在週一下跌，表現不及大盤，投資者正在消化有關公司供應鏈和監管審查的新動態，儘管該股票今年仍大幅上漲。</p>
</div><p>Shares of Tesla were down around 2% at $460.92 in midday trading.</p>
<div class="lb-trans"><p>特斯拉的股價在午盤交易中下跌約 2%，報 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>大盤也表現疲軟，標準普爾 500 指數和道瓊斯工業平均指數分別下跌約 0.4% 和 0.3%。</p>
</div><h2>Battery supply deal scaled back</h2>
<div class="lb-trans"><h2>電池供應協議縮減</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>此次回調發生在特斯拉與韓國電池材料製造商 L&amp;F 的供應協議預計價值大幅降低之際。</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>該協議涵蓋從 2024 年 1 月到 2025 年 12 月向特斯拉及其附屬公司供應高鎳陰極材料，最初估計價值為 29 億美元。</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>根據最新披露，該數字現已大幅下調至僅 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>這一變化引發了投資者對特斯拉電池採購計劃的規模和時機的質疑，儘管公司仍然強調在自動駕駛和人工智能方面的長期投資，而非短期的汽車銷量。</p>
</div><h2>Regulatory scrutiny adds to pressure</h2>
<div class="lb-trans"><h2>監管審查增加壓力</h2>
</div><p>Tesla is also facing renewed regulatory attention.</p>
<div class="lb-trans"><p>特斯拉還面臨重新審視的監管關注。</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>美國國家公路交通安全管理局（NHTSA）已對某些 Model 3 車型的緊急門釋放裝置展開調查。</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>該調查是基於一位來自喬治亞州的車主的請願，他聲稱在緊急情況下機械門釋放裝置難以找到。</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>雖然調查仍處於早期階段，但在特斯拉核心汽車業務因銷售下滑和盈利預期下降而面臨壓力的時刻，這又增加了一層不確定性。</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>儘管週一下跌，特斯拉的股票在年初至今仍上漲約 18%。</p>
</div><p>That performance stands in stark contrast to the company’s underlying fundamentals.</p>
<div class="lb-trans"><p>這一表現與公司的基本面形成鮮明對比。</p>
</div><p>Earnings estimates have fallen sharply, and vehicle sales continue to trend lower.</p>
<div class="lb-trans"><p>盈利預期大幅下調，汽車銷量持續下降。</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>對於 2026 年，華爾街現在預計特斯拉每股收益為 2.17 美元，低於一年前預計的約 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>對於第四季度，分析師預測每股收益約為 44 美分，而去年同期為 73 美分。</p>
</div><p>Vehicle delivery expectations have also slid.</p>
<div class="lb-trans"><p>汽車交付預期也有所下滑。</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>第四季度的銷售現預計約為 44 萬輛，低於一年前的約 49.6 萬輛，最近的一些估計接近 41.5 萬輛。</p>
</div><p>Yet those declines have not materially dented investor enthusiasm.</p>
<div class="lb-trans"><p>然而，這些下降並沒有實質性地削弱投資者的熱情。</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>“汽車銷量（以及更廣泛的基本面）越來越成為次要考慮因素，” 巴克萊的分析師丹·萊維在最近的報告中寫道。</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>萊維表示，特斯拉的股票現在幾乎完全由敍事驅動，圍繞着自動駕駛出租車、類人機器人（如 Optimus）和人工智能的潛在轉折點。巴克萊對該股票的評級為持有，目標價為 350 美元。</p>
</div><h2>Robotaxis take centre stage</h2>
<div class="lb-trans"><h2>自動駕駛出租車成為焦點</h2>
</div><p>Those inflection points are largely tied to Tesla’s autonomous driving ambitions.</p>
<div class="lb-trans"><p>這些轉折點主要與特斯拉的自動駕駛雄心相關。</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>該公司於 6 月在德克薩斯州奧斯汀推出了一項有限的自動駕駛出租車服務，配備安全監控。去除這些監控被廣泛視為一個關鍵里程碑。</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·馬斯克在假期期間激發了樂觀情緒，他在 12 月 24 日發佈消息稱，他在沒有安全監控的情況下駕駛了一輛特斯拉自動駕駛出租車。</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>馬斯克此前曾表示，特斯拉的自動駕駛服務最終可能覆蓋美國一半的人口，儘管這一時間表隨後有所推遲。</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>儘管如此，Wedbush Securities 的丹·艾夫斯仍然看好。他預計到 2026 年底，特斯拉的自動駕駛出租車將在 30 個城市運營，可能超過目前在五個城市運營的 Waymo。Wedbush 對特斯拉的評級為買入，目標價為 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>這一進展承載着巨大的期望。特斯拉目前的市盈率約為未來 12 個月預期收益的 220 倍，使其成為標準普爾 500 指數中最昂貴的股票。</p>
</div><p>The next closest comparison is Palantir Technologies, which trades at around 190 times forward earnings.</p>
<div class="lb-trans"><p>下一個最接近的比較是 Palantir Technologies，其市盈率約為未來收益的 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《為什麼特斯拉股票今天下跌約 2%》最初發表於 Invezz 上。</p>
</div>

Why Tesla stock is down around 2% today

- 特斯拉股票週一下跌約 2%，至 460.92 美元，低於大盤表現。  
- 供應協議價值大幅下調，從 29 億美元修訂至 7386 美元，引發投資者擔憂。  
- NHTSA 正在調查特斯拉 Model 3 的緊急門釋放問題，增加了不確定性。

為什麼特斯拉的股票今天下跌了約 2%