"Tesla's Record EV Deliveries Met with Cautious Optimism by Wall Street"

Despite Tesla's record vehicle deliveries in Q4 and meeting its full-year targets, Wall Street analysts remain unimpressed, focusing on the company's end-of-year earnings and potential profit challenges in 2024. Analysts are particularly concerned about auto gross margins and vehicle pricing, as Tesla's aggressive price cuts and discounts to maintain sales momentum have led to a significant drop in margins. Tesla's stock price has reflected these concerns, with a decline during recent market action. Additionally, competition in the EV market is intensifying, with China's BYD surpassing Tesla in BEV sales and Rivian also making strides, although it fell slightly short of Q4 delivery expectations. Tesla CEO Elon Musk emphasizes that Tesla is more of an AI/robotics company than a traditional automaker, a sentiment echoed by some analysts who see a broader value in the company beyond its EV business.