Piper Jaffray, a leading U.S. investment bank, recently released a report highlighting Tesla’s dominant position in China, the world's largest automotive market. The report states that Tesla faces no real competition and that its future in the region looks very promising. The firm maintained its "overweight" rating on Tesla's stock, emphasizing that the company's electric vehicles are significantly ahead of their Chinese competitors in terms of quality and innovation.
In a statement issued on Tuesday, analyst Alexander Potter from Piper Jaffray said, “After meeting with an electric vehicle industry organization in Beijing this week, we still believe Tesla doesn’t have much to worry about from Chinese brands—especially given the current competitive landscape.†He added, “Brand reputation and performance are both crucial factors for consumers, and at this point, we don’t see any Chinese automaker matching Tesla’s standards.â€
According to Tesla’s 10-K filing with the U.S. Securities and Exchange Commission (SEC), the company’s sales in China surged to $1.07 billion in 2022, a massive increase from just $319 million in 2015. This growth reflects Tesla’s strong market penetration and brand appeal in the region.
Potter also reiterated his target price of $386 per share, which is 10% above Tesla’s closing price on Monday. In his report, he noted, “Anyone who has driven a Chinese-branded electric car would agree that, like many other Chinese cars, these vehicles aren’t particularly exciting or compelling for consumers.â€
Additionally, Porter pointed out that China will implement an electric vehicle quota system starting in 2019. Under the new policy, major automakers will be required to allocate 10% of their production capacity to electric vehicles by 2019, increasing to 12% by 2020. Companies that fail to meet these targets will be able to purchase "credit points" from those that exceed the quotas.
As of Monday, Tesla’s stock had risen 64% year-to-date, far outpacing the 14% gain of the S&P 500 Index. However, shares dipped 1.4% after news of Tesla laying off more than 700 employees was released. Despite this, the stock rebounded slightly, gaining 0.2% after the market opened on Tuesday.
Investors remain cautious, however, as concerns about Tesla’s cash burn rate and its ability to meet the Model 3 production targets continue to linger. Still, the overall sentiment from analysts like Piper Jaffray remains positive, reinforcing Tesla’s strong position in one of the most important markets for the global auto industry.
Asic Miner
Application-Specific Integrated Circuit refers to an integrated circuit specifically designed to perform a specific computing task. It is very common to use ASIC for mining in the field of blockchain. This article will analyze the principle of ASIC mining and why it should be anti-ASIC.
For Bitcoin, mining has gone through four stages: CPU, GPU, FPGA and ASIC. GPU is naturally suitable for parallel simple operations, so the execution of SHA256 is much higher than the CPU. FPGA is a programmable hardware, because it has a certain degree of universality, so the unit price will be relatively expensive. ASIC has a large initial design investment, but the unit price will be cheaper after mass production. Therefore, if you can determine that the market size is relatively large, the use of ASIC technology will be the most cost-effective.
This is the basic principle of ASIC.
In a nutshell, mining is running complicated calculations in the search for a specific number. Whether it`s an ASIC miner or a GPU mining rig, mining hardware must run through many calculations before finding that number. In proof of work systems like Bitcoin, the first one to find that number gets a reward - at the time of writing, 12.5 Bitcoins worth around $96,850. That reward will fall to 6.25 Bitcoins in May 2020.
There are so many people and powerful computing systems trying to mine Bitcoin that miner groups form to find that number and share the profit. Even more, the faster your hardware, the more you earn. That`s why people who can afford it opt for ASIC miners because it gives them the greatest chance of earning cryptocurrency in exchange for their investment.
Each cryptocurrency has its own cryptographic hash algorithm, and ASIC miners are designed to mine using that specific algorithm. Bitcoin ASIC miners are actually designed to calculate the SHA-256 hash algorithm. In the case of Litecoin, it uses Scrypt. That means technically they could mine any other coin that`s based on the same algorithm, though typically, people who buy ASIC hardware designed for Bitcoin mine that specific digital currency.
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