(Updated - April 21, 2022 9:26 AM EDT)

Global Equities Research analyst Trip Chowdhry raised the price target on Tesla (NASDAQ: TSLA) to a 'Street High' $2,300.00 (from $1,500.00) while maintaining an Overweight rating.

Chowdhry also said to sell Apple (NASDAQ: AAPL) and Netflix (NASDAQ: NFLX), saying Tesla is the Only Company...

• ... poised to grow at least 50% y-y for multiple years into future
• doing Innovation By Subtraction; No other Company in any Sector can do this
• having more than 5 Extremely Solid Anchors; AAPL has 2, and NFLX has "0" Anchors
• has Exponential Scaling and Automation built into every level of Factory Technology Stack; No other Company in any Sector has this

The analyst said Tesla has only scratched the surface, as 99% of the market has not yet been realized.

Further, he highlighted:

• Massive Giga Austin Factory for extreme scaling
• Solid Product pipeline for CY 2023 - Multiple product lines at Giga Austin
• Production Ramp up happening at both Giga Berlin and Giga Austin
• Production Ramp up of Model S Plaid ($134K) and Model X Plaid ($139K) is extremely Strong
• Shipping activity is extremely strong and efficient - TSLA owns Shipping Trucks
• TSLA Controls the Vehicle Center Stack - it is a very Strong Strategic anchor
• Superchargers are a Profit Center, rather than just being an EV Adoption Catalyst - this leads to Margin Expansion
• "Innovation by Subtraction"
• Margin Expansion to Continue
• CyberTruck - Innovation to the Extreme "No Door Handles"
• TSLA Insurance is now offered in California, Texas, Colorado, Oregon, and Virginia