机构警告：扣除自动驾驶和能源业务，特斯拉汽车业务每股价值只有30到40美元_老虎社区_美港股上老虎

机构警告：扣除自动驾驶和能源业务，特斯拉汽车业务每股价值只有30到40美元

格隆汇2025-12-18

William Blair能源研究主管Jed Dorsheimer表示，特斯拉汽车业务的权重其实被大幅淡化了，我们在部分加总分析中指出，汽车本业每股价值其实只有大约30到40美元。Dorsheimer认为，目前股价几乎完全是对尚未完全实现的未来下注，这场“转型”其实已经完成——市场不再以电动车交付量来评价特斯拉，而是聚焦在其机器人与AI的进展。根据他的分析，自动驾驶如今已占特斯拉整体价值超过...

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Heykid
·2025-12-18
那就做空去啊，逼逼什么呢？
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Dorsheimer表示，特斯拉汽车业务的权重其实被大幅淡化了，我们在部分加总分析中指出，汽车本业每股价值其实只有大约30到40美元。Dorsheimer认为，目前股价几乎完全是对尚未完全实现的未来下注，这场“转型”其实已经完成——市场不再以电动车交付量来评价特斯拉，而是聚焦在其机器人与AI的进展。\n根据他的分析，自动驾驶如今已占特斯拉整体价值超过70%，包括长期承诺的Robotaxi平台以及人形机器人Optimus。能源业务的成长也非常明显，其价值已经与汽车业务相当，甚至可能略高。从部分加总的角度来看，若扣除市场对自动驾驶软件与能源储存事业的高度期待，剩下的电动车公司本体，相对目前股价显得大幅被高估。Dorsheimer看好特斯拉长期的能源布局，并指出能源事业是市场尚未充分重视、却极具潜力的未来获利引擎。","kind":"live","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":true,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"},"commentList":[{"id":511988668543896,"gmtCreate":1766024272961,"gmtModify":1766024916854,"author":{"id":"3577104682622234","authorId":"3577104682622234","name":"Heykid","avatar":"https://static.tigerbbs.com/bf51fc7e80e268248e5747d923640d90","vip":1,"crmLevel":9,"crmLevelSwitch":0,"authorIdStr":"3577104682622234","idStr":"3577104682622234"},"htmlText":"那就做空去啊，逼逼什么呢？","listText":"那就做空去啊，逼逼什么呢？","text":"那就做空去啊，逼逼什么呢？","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/511988668543896","repostId":2592172928,"repostType":2,"repost":{"id":"2592172928","kind":"live","pubTimestamp":1766023774,"share":"https://www.laohu8.com/m/news/2592172928?lang=zh_CN&edition=full","pubTime":"2025-12-18 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Dorsheimer表示，特斯拉汽车业务的权重其实被大幅淡化了，我们在部分加总分析中指出，汽车本业每股价值其实只有大约30到40美元。Dorsheimer认为，目前股价几乎完全是对尚未完全实现的未来下注，这场“转型”其实已经完成——市场不再以电动车交付量来评价特斯拉，而是聚焦在其机器人与AI的进展。\n根据他的分析，自动驾驶如今已占特斯拉整体价值超过...</p>\n\n<a href=\"https://www.gelonghui.com/rss/live/live.xml\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BK4612":"AI芯片","LU1861558580.USD":"日兴方舟颠覆性创新基金B","LU0345769631.USD":"NINETY ONE GSF GLOBAL EQUITY \"A\" (USD) INC","IE00B19Z9505.USD":"美盛-美国大盘成长股A Acc","LU2750360997.AUD":"INVESCO GLOBAL EQUITY INCOME ADVANTAGE \"A\" (AUDHDG) INC","SG9999015945.SGD":"LionGlobal Disruptive Innovation Fund A SGD","LU2896262040.SGD":"JPM US GROWTH FUND \"A\" (SGD) ACC","LU0345770308.USD":"NINETY ONE GSF GLOBAL STRATEGIC EQUITY \"A\" (USD) ACC","IE00BWXC8680.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5\" (SGD) ACC","LU0345770993.USD":"NINETY ONE GSF GLOBAL STRATEGIC EQUITY \"A\" (USD) INC","BK4574":"无人驾驶","LU1720051108.HKD":"ALLIANZ GLOBAL ARTIFICIAL 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