Tesla's total market capitalization can swell to $4 trillion over the next 10 years, Ron Baron said Wednesday.
CEO Elon Musk agrees with the billionaire investor's forecast.
"We do need to knock the ball out the park several times to achieve that value, but I think we can," he said in a post on X.
Legendary growth investor Ron Baron believes that Tesla's total market capitalization could swell to an eye-popping $4 trillion over the next decade – and Elon Musk agrees.
Baron floated the $4 trillion valuation target back in September and doubled down on that figure in an interview with MarketWatch published Wednesday, adding that he thinks the Tesla, X, and SpaceX owner is a "brilliant guy".
"We do need to knock the ball out of the park several times to achieve that value, but I think we can," Musk said in a post on X just after midnight Eastern Time Thursday, replying to a short clip of Baron sharing his outlook.
Tesla's market cap stood at just over $650 billion as of Wednesday's closing bell, according to data from Refinitiv, so would have to rise more than sixfold to hit $4 trillion.
Shares in the EV maker have jumped 67% year-to-date, with a massive explosion of interest in AI encouraging investors to load up on "Magnificent Seven" mega-cap Big Tech stocks.
Tesla was up by more than 100% year-to-date earlier this year, but those gains gains were pared during a rough October where Tesla slumped 21%, dragged down by a nightmarish third-quarter earnings call where Musk warned of economic headwinds and told analysts that the company had likely "dug [its] own grave" with the long-delayed Cybertruck.
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