TSLA - TESLA: AI AND ENERGY IN FOCUS AMID AUTO CHALLENGES Wolfe Research says Tesla's investment story is shifting toward AI and autonomy, with upcoming catalysts like Full Self-Driving (FSD) expansion, robotaxis, and the Optimus robot entering scaled production by 2026. Despite long-term potential, near-term fundamentals are weak. Wolfe's 2025–26 EPS estimates (1.62 and 1.67) are below consensus, citing risk to Model 3/Y demand as U.S. tax credits expire in 2025. On the bright side, Tesla’s Energy segment is expected to double revenue by 2026 (18B), helping offset cash burn as AI investment grows. Bottom line: Tesla trades more on future tech than current numbers.(*Walter Bloomberg)