Tesla (TSLA) Ultra Bull Chowdhry Said Prudent to Be Cautious Near-Term Amid Chip Shortages

Global Equities Research analyst Trip Chowdhry believes Tesla (NASDAQ: TSLA) will be impacted by the global chip shortages and in particular the Renesas chip factory fire.

The analyst highlights:

• In 2017, at Embedded System Conference, we uncovered that IDT (Integrated Device Technology), a San Jose based Company, was a supplier to TSLA
• In 2018 Renesas acquired IDT
• Fire broke in Tokyo Plant, and not in San Jose. We don't know how IDT operations may have changed post merger
• But we also know Delphi is a supplier to TSLA, and Renesys is a Supplier to Delphi

The ultra-bullish analyst said it is prudent to be cautious near term on Tesla, as production gets impacted by any single part even a 5 cent one.

However, in the long-term, the analyst said it is not a problem for Tesla and the analyst reiterated his $1000 price target.

You May Also Be Interested In

• IBM tumbles on soft Q1 revenue; announces HashiCorp $6.4bn acquisition
• Tesla (TSLA) soars on Q1 print
• Matador Resources Company (MTDR) PT Raised to $78 at JPMorgan