Global Equities Research analyst Trip Chowdhry raised his price target on Tesla (NASDAQ: TSLA) to $550 (from $500), saying every fund will own the stock as long-term fundamental are solid.

Chowdhry's key message:

• Every Fund should own TSLA - probably the only innovative company left - Apple is Doomed
• TSLA Delivery Hub is having very strong customer activity - Apple Stores are Dead
• On December 29, Checkout Line for TSLA's Fremont Delivery Hub was larger than that at Fremont Costco
• TSLA is the new Apple; Model 3 is the New iPhone - Apple is DONE - zero innovation - zero excitement
• All traditional auto manufacturers are stuck in stone age:
  • GM, Ford, BMW, Porsche, Mercedes, Toyota, Lexus, Honda, Jaguar, Bentley etc have ZERO chance of winning against TSLA

The analyst further noted his December 29th Tesla factory checks showed:

• While the world is on holiday, waiting to welcome 2019, TSLA Employees are Hard at Work, producing and delivering TSLA vehicles
• There is no holiday at TSLA - December 29th, Saturday, was a full working day, employees were super energetic and super excited
• During the week of December 24th, TSLA Model 3 Production was easily 6,500 per week
• International Shipments of Model 3s have started

Chowdhry published several photos from his visit, including the one below showing about 100 Model 3s with their Frunk (Front Trunk) opened, just got manufactured, and drove from the production area to holding Area.

Another photo showed very strong customer activity at the Tesla delivery hub. The analyst said compare this to Apple Stores, which are "totally dead."