Tesla (TSLA.US) is scheduled to announce its Q3 2025 earnings this Wednesday after the US market closes. Wall Street analysts forecast that Tesla will report revenues of $26.6 billion, an operating profit of $1.58 billion, a gross margin of 15.9% in its automotive business, earnings per share of $0.55, and free cash flow of $1.1 billion. Earlier this month, Tesla reported delivering 497,099 vehicles in Q3, setting a new quarterly delivery record and exceeding the market expectation of 448,000 units, as buyers rushed to purchase vehicles before the tax credits expired. The upcoming earnings conference call is expected to focus again on the company's AI supercomputing systems and autonomous driving initiatives. Elon Musk and other executives have remained relatively silent regarding the progress of the Robotaxi rollout in Austin. However, Tesla observers have noticed new job postings for autonomous driving and Robotaxi operators in Colorado (Aurora/Denver area) and Illinois (Chicago), suggesting that there might be important details concerning Tesla's expansion. Investors will also be keen on updates regarding Tesla’s plans to launch the CyberCab and RoboVan, dedicated autonomous vehicles independent of its current lineup. While Tesla has recently introduced more affordable Model Y and Model 3 options, analysts may seek to challenge Musk if the much-anticipated mass-market electric vehicle is still in development. Dan Ives, a senior analyst at Wedbush known as a “Tesla super bull,” has recently raised Tesla’s target price significantly to $600 while maintaining an “outperform” rating. Ives’ core logic is centered on future prospects rather than electric vehicle delivery figures, largely due to Tesla's advancements in AI and the impending breakthroughs. Ives pointed out that the market severely underestimates Tesla's transformation potential—AI-driven FSD autonomous driving and robotics are projected to become core strategic pillars by 2026, and Tesla’s “game-changing” role in AI and robotics will directly dictate its future trajectory. Ives' team estimates that the AI-based FSD autonomous driving sector alone could yield a valuation of at least $1 trillion for Tesla. During the remaining year of the Trump administration, Tesla's key FSD projects are expected to accelerate, as federal regulatory hurdles that have constrained the company in recent years are likely to be lifted. Ives' team believes that under a bull market scenario, Tesla's market cap could reach $2 trillion by early 2026, which may further rise to $3 trillion by the end of the year with large-scale production of autonomous driving and robotic technologies. Another financial giant, Morgan Stanley, even views Tesla's mobility solutions and Robotaxi as a core profit center for the automaker in the long term; it forecasts that by 2040, Tesla’s fleet for automated mobility could reach approximately 7.5 million vehicles, generating around $1.46 per mile in revenue and an EBITDA margin of approximately 29%. Based on the strong growth expectations tied to Robotaxi and Optimus robots, Morgan Stanley's long-term bull case target price for Tesla is $800 per share.