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Since Tesla (TSLA) released its second-quarter earnings yesterday, the stock has been consistently rising. Today at 3:00 PM EST, Tesla stock was trading at $344.60, with ~14.6% gains for the session. Among other auto companies (XLY), General Motors (GM) rose 1.3% while Ford (F) and Fiat Chrysler (FCAU) were up 0.2% and 2.4%, respectively.
Tesla (TSLA), the popular electric carmaker, is ready to release its 1Q18 earnings on May 2. Despite a weakness in the second half of 2017, the company managed to yield impressive returns of 45.7% last year. That was much better than the 19.4% gain for the S&P 500 Index last year and a 32% rise in the Nasdaq 100. Before we look at analysts’ estimates for Tesla’s 1Q18 earnings, let’s review its recent performance.
Earlier in this series, we looked at the S&P 500 rally and Microsoft’s (MSFT) contribution to it. September 2017 marked the first time Microsoft stock surged to its all-time high and crossed the $600 billion market cap (capitalization). Microsoft stock is currently trading at $92 and has crossed the $710 billion landmark.