<p>儘管在經歷了年初的艱難開局後，<strong>特斯拉</strong>（TSLA 3.76%）在 2025 年以良好的表現收尾，並實現了增長，但分析師們並不期待 2026 年會有類似的表現。根據最新的分析，分析師社區對特斯拉股票的 12 個月共識目標價僅為每股 421.48 美元，低於當前接近 430 美元的股價。</p>
<p>問題在於，考慮到公司正在進行的全面轉型，華爾街的謹慎態度可能是正確的。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84NTMyOTAvbWFuLWxvb2tpbmctaW4tdGhlLWRpc3RhbmNlLXdpdGgtYS1wYWlyLW9mLWJpbm9jdWxhcnMuanBnJnc9Mzg0MA?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84NTMyOTAvbWFuLWxvb2tpbmctaW4tdGhlLWRpc3RhbmNlLXdpdGgtYS1wYWlyLW9mLWJpbm9jdWxhcnMuanBnJnc9Mzg0MA"/></p>
<p>圖片來源：Getty Images。</p>
<h2>特斯拉的變化</h2>
<p>你知道特斯拉是幾家電動車（EV）製造商之一。但這遠不是它唯一的身份。實際上，考慮到最近的公告，其電動車業務似乎現在有些次要。其中一項公告是公司將很快停止生產 Model S 和 Model X 車型，暫時專注於 Model 3 和 Model Y 的生產。</p>
<p>展開</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vYXJ0L2NvbXBhbnlsb2dvcy9tYXJrL1RTTEEucG5nJnc9MTI4?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="特斯拉股票報價" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vYXJ0L2NvbXBhbnlsb2dvcy9tYXJrL1RTTEEucG5nJnc9MTI4"/></p>
<h2>NASDAQ: TSLA</h2>
<p>特斯拉</p>
<p>今日變動</p>
<p>(-3.76%) $-15.85</p>
<p>當前價格</p>
<p>$406.11</p>
<h3>關鍵數據點</h3>
<p>市值</p>
<p>$1.4 萬億</p>
<p>日內區間</p>
<p>$399.19 - $423.90</p>
<p>52 周區間</p>
<p>$214.25 - $498.83</p>
<p>成交量</p>
<p>320 萬</p>
<p>平均成交量</p>
<p>7400 萬</p>
<p>毛利率</p>
<p>18.03%</p>
<p>這個想法在實際和表面上都很有道理。被從產品線中剔除的兩個車型僅佔特斯拉總產量的約 3%，這使得它們更像是分散注意力的因素，而不是有意義的利潤中心。然而，值得注意的是，自從其他電動車製造商如 <strong>比亞迪</strong>、<strong>吉利汽車</strong> 和 <strong>大眾</strong> 提高了電動車產量以來，這兩款高端電動車的銷量也有所下滑；尤其是在中國市場。</p>
<p>另一個令人震驚的近期發展是特斯拉首席執行官埃隆·馬斯克上個月在決定停產 Model S 和 Model X 電動車時所説的。也就是説，公司大幅削減這兩款高價電動車，以便專注於開發和生產一款名為 Optimus 的人工智能人形機器人，預計將在明年向公眾推出。馬斯克甚至表示，這些售價 3 萬美元的自動化產品可能會成為 “有史以來最大的產品”。</p>
<p>這些舉措當然只是從電動車向人工智能（AI）驅動的自動化轉型的更大哲學變化的一部分，包括 自動駕駛交通。</p>
<p>更有趣的是，現在有傳言稱，馬斯克正在考慮將獨立運營的 SpaceX 與他同樣獨立運營的人工智能開發公司 xAI 合併，以及將這兩個組織與特斯拉本身合併的可能性。</p>
<h2>暫停，待進一步通知</h2>
<p>這些想法並不一定是壞主意。然而，所有這些想法要麼是漫長的改造項目，要麼是分散注意力，或者兩者兼而有之。在此期間，特斯拉的核心電動車業務可能會受到最大的影響，因為馬斯克將注意力集中在重塑他的其他業務帝國，同時重新聚焦特斯拉。此外，目前尚不清楚所有這些工作何時能夠完成，也不清楚完成後是否在財政上值得。</p>
<p>這對特斯拉股票來説是個問題，因為投資者不喜歡未知和不確定性，並可能會在清晰度重新出現之前保持觀望。你可能也想這樣做。</p>

TESL

特斯拉

2 倍做多特斯拉 ETF - Direxion

2 倍做多 TSLA ETF - GraniteShares

2 倍做多 TSLA ETF - T-Rex

1.25 倍做多特斯拉 ETF - GraniteShares

2 倍做多特斯拉 ETF - Leverage Shares

<p>華爾街分析師對特斯拉（TSLA）在 2026 年的表現持謹慎態度，12 個月的目標價為 421.48 美元，低於其當前約 430 美元的價格。特斯拉計劃停產 Model S 和 Model X，以專注於 Model 3、Model Y 以及開發一款名為 Optimus 的人工智能機器人。這一轉變可能會分散其核心電動車業務的注意力，導致投資者的不確定性。因此，特斯拉的股票可能面臨挑戰，直到其未來方向更加明朗</p>

<p>Despite bouncing back from its rough start to the year to end 2025 on a high note -- and with a gain -- analysts aren't expecting a repeat performance from <strong>Tesla</strong>( TSLA 3.76%) in 2026. As of the latest look, the analyst community's current 12-month consensus price target for Tesla stock is only $421.48 per share, which is below the ticker's present price near $430.</p>
<div class="lb-trans"><p>儘管在經歷了年初的艱難開局後，<strong>特斯拉</strong>（TSLA 3.76%）在 2025 年以良好的表現收尾，並實現了增長，但分析師們並不期待 2026 年會有類似的表現。根據最新的分析，分析師社區對特斯拉股票的 12 個月共識目標價僅為每股 421.48 美元，低於當前接近 430 美元的股價。</p>
</div><p>The thing is, given the sweeping transformation now underway at the company, Wall Street may be right to be cautious.</p>
<div class="lb-trans"><p>問題在於，考慮到公司正在進行的全面轉型，華爾街的謹慎態度可能是正確的。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84NTMyOTAvbWFuLWxvb2tpbmctaW4tdGhlLWRpc3RhbmNlLXdpdGgtYS1wYWlyLW9mLWJpbm9jdWxhcnMuanBnJnc9Mzg0MA" alt="A person looks into the distance using a pair of binoculars." original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F853290%2Fman-looking-in-the-distance-with-a-pair-of-binoculars.jpg&amp;w=3840&amp;op=resize"/></p>
<p>Image source: Getty Images.</p>
<div class="lb-trans"><p>圖片來源：Getty Images。</p>
</div><h2>Ch-ch-ch-ch-changes at Tesla</h2>
<div class="lb-trans"><h2>特斯拉的變化</h2>
</div><p>You know Tesla as one of several manufacturers of electric vehicles (EVs). But that's far from its sole identity. Its EV business almost seems somewhat secondary now, in fact, in light of recent announcements. One of these announcements is news that the company will soon stop making its Model S and Model X vehicles, and focus -- for now anyway -- strictly on production of its Model 3 and Model Y.</p>
<div class="lb-trans"><p>你知道特斯拉是幾家電動車（EV）製造商之一。但這遠不是它唯一的身份。實際上，考慮到最近的公告，其電動車業務似乎現在有些次要。其中一項公告是公司將很快停止生產 Model S 和 Model X 車型，暫時專注於 Model 3 和 Model Y 的生產。</p>
</div><p>Expand</p>
<div class="lb-trans"><p>展開</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vYXJ0L2NvbXBhbnlsb2dvcy9tYXJrL1RTTEEucG5nJnc9MTI4" alt="Tesla Stock Quote" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Fart%2Fcompanylogos%2Fmark%2FTSLA.png&amp;w=128&amp;op=resize"/></p>
<h2>NASDAQ: TSLA</h2>
<div class="lb-trans"><h2>NASDAQ: TSLA</h2>
</div><p>Tesla</p>
<div class="lb-trans"><p>特斯拉</p>
</div><p>Today's Change</p>
<div class="lb-trans"><p>今日變動</p>
</div><p>(-3.76%) $-15.85</p>
<div class="lb-trans"><p>(-3.76%) $-15.85</p>
</div><p>Current Price</p>
<div class="lb-trans"><p>當前價格</p>
</div><p>$406.11</p>
<div class="lb-trans"><p>$406.11</p>
</div><h3>Key Data Points</h3>
<div class="lb-trans"><h3>關鍵數據點</h3>
</div><p>Market Cap</p>
<div class="lb-trans"><p>市值</p>
</div><p>$1.4T</p>
<div class="lb-trans"><p>$1.4 萬億</p>
</div><p>Day's Range</p>
<div class="lb-trans"><p>日內區間</p>
</div><p>$399.19 - $423.90</p>
<div class="lb-trans"><p>$399.19 - $423.90</p>
</div><p>52wk Range</p>
<div class="lb-trans"><p>52 周區間</p>
</div><p>$214.25 - $498.83</p>
<div class="lb-trans"><p>$214.25 - $498.83</p>
</div><p>Volume</p>
<div class="lb-trans"><p>成交量</p>
</div><p>3.2M</p>
<div class="lb-trans"><p>320 萬</p>
</div><p>Avg Vol</p>
<div class="lb-trans"><p>平均成交量</p>
</div><p>74M</p>
<div class="lb-trans"><p>7400 萬</p>
</div><p>Gross Margin</p>
<div class="lb-trans"><p>毛利率</p>
</div><p>18.03%</p>
<div class="lb-trans"><p>18.03%</p>
</div><p>The idea makes enough practical, superficial sense. The two models to be dropped from its lineup only account for about 3% of Tesla's total production, which makes them more of a distraction than a meaningful profit center. It's worth noting, however, that sales of both higher-end electric vehicles have also deteriorated since other EV makers like <strong>BYD</strong>, <strong>Geely Automobile</strong>, and <strong>Volkswagen</strong> have stepped up their EV output; that's particularly true in China.</p>
<div class="lb-trans"><p>這個想法在實際和表面上都很有道理。被從產品線中剔除的兩個車型僅佔特斯拉總產量的約 3%，這使得它們更像是分散注意力的因素，而不是有意義的利潤中心。然而，值得注意的是，自從其他電動車製造商如 <strong>比亞迪</strong>、<strong>吉利汽車</strong> 和 <strong>大眾</strong> 提高了電動車產量以來，這兩款高端電動車的銷量也有所下滑；尤其是在中國市場。</p>
</div><p>The other somewhat shocking recent development is something else Tesla CEO Elon Musk said last month in conjunction with the decision to discontinue the Model S and Model X battery-powered automobiles. That is, the company is largely dropping these two high-priced EVs from its portfolio so it can focus on the development and production of an AI-powered humanoid robot called Optimus that's expected to be made available to the public sometime next year. Musk even went as far as to suggest these $30,000 automatons could prove to be &#34;the biggest product of all time.&#34;</p>
<div class="lb-trans"><p>另一個令人震驚的近期發展是特斯拉首席執行官埃隆·馬斯克上個月在決定停產 Model S 和 Model X 電動車時所説的。也就是説，公司大幅削減這兩款高價電動車，以便專注於開發和生產一款名為 Optimus 的人工智能人形機器人，預計將在明年向公眾推出。馬斯克甚至表示，這些售價 3 萬美元的自動化產品可能會成為 “有史以來最大的產品”。</p>
</div><p>These moves are, of course, all just part of a bigger philosophical shift away from electric vehicles and toward artificial intelligence (AI)-powered automation, including autonomously driven transportation.</p>
<div class="lb-trans"><p>這些舉措當然只是從電動車向人工智能（AI）驅動的自動化轉型的更大哲學變化的一部分，包括 自動駕駛交通。</p>
</div><p>The kicker: Whispers are now circulating that Musk is toying with the idea of melding separately managed SpaceX with his also-separately run artificial intelligence developer xAI, as well as the possibility of melding these two organizations with Tesla itself.</p>
<div class="lb-trans"><p>更有趣的是，現在有傳言稱，馬斯克正在考慮將獨立運營的 SpaceX 與他同樣獨立運營的人工智能開發公司 xAI 合併，以及將這兩個組織與特斯拉本身合併的可能性。</p>
</div><h2>On hold 'til further notice</h2>
<div class="lb-trans"><h2>暫停，待進一步通知</h2>
</div><p>None of these is necessarily a bad idea. All of these ideas, however, are either lengthy overhaul projects, distracting, or both. Tesla's core electric vehicle business itself is positioned to suffer the most in the meantime as Musk focuses his attention on reshaping the rest his empire while also refocusing Tesla. Moreover, not only is it not clear when all of this work might actually be done, but there's also no clarity as to whether it will be fiscally worth it when it's all completed.</p>
<div class="lb-trans"><p>這些想法並不一定是壞主意。然而，所有這些想法要麼是漫長的改造項目，要麼是分散注意力，或者兩者兼而有之。在此期間，特斯拉的核心電動車業務可能會受到最大的影響，因為馬斯克將注意力集中在重塑他的其他業務帝國，同時重新聚焦特斯拉。此外，目前尚不清楚所有這些工作何時能夠完成，也不清楚完成後是否在財政上值得。</p>
</div><p>That's a problem for Tesla stock simply because investors dislike unknowns and uncertainty, and will likely remain on the sidelines until clarity reemerges. You might want to do the same.</p>
<div class="lb-trans"><p>這對特斯拉股票來説是個問題，因為投資者不喜歡未知和不確定性，並可能會在清晰度重新出現之前保持觀望。你可能也想這樣做。</p>
</div>

What Wall Street Thinks Tesla Will Be Worth by End of 2026. 1 Reason It Might Be Right

- 特斯拉預計 2026 年表現不佳，分析師目標價為 421.48 美元。  
- 公司將停止生產 Model S 和 Model X，集中於 Model 3 和 Model Y。  
- 特斯拉轉向 AI 機器人開發，但可能影響電動車業務。

華爾街對特斯拉在 2026 年底的估值預測及其可能正確的一個原因