Yet when it comes to valuation, Tesla is still the fourth-most expensive stock on the NYSE FANG+ Index, trading at a forward multiple of 33 times estimated 2022 earnings.
Worth $440B
The company is worth almost $440 billion, far bigger than any other major global carmaker. Toyota, the second-biggest, is valued at about half that. Toyota is estimated to sell 8.9 million cars in fiscal 2023, ending March 31, while Tesla deliveries for calendar 2022 are expected to be around 1.3…
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