13 Best Blue Chip Stocks to Buy Now

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2. Tesla, Inc. (NASDAQ:TSLA)

Number of Hedge Fund Holders: 115

Tesla Inc. (NASDAQ:TSLA) is one of the best blue-chip stocks to buy now. On November 11, analysts at Truist Securities expressed confidence in Tesla Inc.’s (NASDAQ:TSLA) prospects following the approval of $1 trillion equity compensation for Chief Executive Officer Elon Musk. The research firm reiterated a Hold rating and a $406 price target, citing confidence that the equity compensation removes the uncertainty of Musk leaving the company.

On November 3, Wedbush reiterated an Outperform rating on the stock and a $600 price target, expecting that under Musk’s leadership, with the $1 trillion compensation in place, the company will become an AI juggernaut. The massive payout is based on Tesla achieving extraordinary market cap, operational, and AI-driven milestones.

Among the goals that Musk must achieve as part of the $1 trillion payout are ensuring Tesla delivers 20 million vehicles, 10 million active Full Self-Driving subscriptions, and 1 million robotaxis in commercial operation.

Tesla Inc. (NASDAQ:TSLA) is an electric vehicle company that utilizes AI to power its autonomous driving systems, manage its manufacturing and factories, and develop new products, such as the Optimus humanoid robot. The company leverages a massive dataset from its vehicle fleet to train these AI systems and also develops its own AI hardware.

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