In this article, we discuss the 5 best stocks to buy for the next 10 years. If you want to read our detailed analysis of these stocks, go directly to the 10 Best Stocks to Buy for the Next 10 Years.
5. Tesla, Inc. (NASDAQ:TSLA)
Number of Hedge Fund Holders: 60
Tesla, Inc. (NASDAQ:TSLA) makes and sells electric vehicles and clean energy equipment. It has already established itself as the leading EV firm in the world. As the market for EVs expands to beyond $5 trillion, one of the biggest beneficiaries of this growth will be Tesla.
New Street analyst Pierre Ferragu recently raised the price target on Tesla, Inc. (NASDAQ:TSLA) stock to $1,580 from $1,298 and reiterated a Buy rating, backing the firm to deliver over 280,000 EVs in the fourth quarter.
On December 8, Tesla, Inc. (NASDAQ:TSLA) reported that it had sold 52,859 China-made vehicles in November, down 3% month-on-month but up over 340% year-on-year. The firm said it exported 21,127 China-made vehicles in November.
At the end of the third quarter of 2021, 60 hedge funds in the database of Insider Monkey held stakes worth $10 billion in Tesla, Inc. (NASDAQ:TSLA), the same as in the previous quarter worth $9 billion.
“Tesla, Inc. designs, manufactures, and sells fully electric vehicles, solar products, energy storage solutions, and battery cells. The stock fell during the quarter as a result of general market dynamics and a potential production slowdown due to parts shortages. A refreshed S/X and China Model Y ramp could also have a negative impact on margins in early 2021. We anticipate strong growth and improved margins driven by new production capacity, manufacturing efficiencies, localization of its manufacturing and supply chain, and maturation of Tesla’s full self-driving technology.”