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J.P. Morgan Analyst Warns Tesla Stock Could Plunge 60%

4/7/2026

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Summary

Story summary

J.P. Morgan analyst Ryan Brinkman says Tesla is overvalued at $361, with a $145 fair value, implying about a 60% drop.
He attributes the premium to the "Elon Musk magic premium" as Tesla misses sales expectations.
Q1 deliveries fall short by over 1 million units, with a gap between projections and reality.
Brinkman warns that 2026's $20 billion capex may not yield returns amid rising competition in autonomous driving and robotics.

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Story summary

J.P. Morgan analyst Ryan Brinkman says Tesla is overvalued at $361, with a $145 fair value, implying about a 60% drop.
He attributes the premium to the "Elon Musk magic premium" as Tesla misses sales expectations.
Q1 deliveries fall short by over 1 million units, with a gap between projections and reality.
Brinkman warns that 2026's $20 billion capex may not yield returns amid rising competition in autonomous driving and robotics.