Only Apple has lost more value than Tesla this year

Tesla lost $380 billion in market cap this year. Apple lost twice that.

6/6/25 12:04PM

Elon Musk’s public beef with President Donald Trump yesterday helped eviscerate a record $152 billion from Tesla’s market cap. And that’s only the latest trouble for the electric vehicle company.

Tesla has been having a very bad year so far. Despite promising a “return to growth” in vehicle sales this year, Tesla saw its biggest quarterly decline in deliveries ever in the first quarter. As a result, its Q1 earnings fell short of even lowered analyst expectations.

The company’s brand perception plummeted along with its CEO’s ascension to his position at DOGE as people around the world boycott the company. And despite what Musk has said to the contrary, Q2 sales aren’t looking good either.

Additionally, the company is facing increased competition from US automakers and China EV companies like BYD, while its aging lineup of inventory languishes in parking lots. It’s also facing pressure from tariffs on materials shipped from Canada and Mexico. Then, of course, there’s Trump’s “big, beautiful bill,” which could threaten about half of Tesla’s profits, JPMorgan calculated. Analysts expect deliveries and sales to decline this year compared with 2024.

All of this has combined to take a big hit to Tesla’s stock price and valuation.

Since December 31, 2024, Tesla has lost a total of $380 billion in market cap, according to data from FactSet from market close yesterday. To put that in context, only Apple, which has also had a terrible, no-good year thanks to Trump’s tariffs and trade war, has lost more in absolute market value. Of course, Apple is 3x the size of Tesla and as a result has much more to lose.

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Palo Alto Networks surges after it beats revenue and earnings estimates

Cybersecurity firm Palo Alto Networks jumped more than 10% in postmarket trading after reporting fiscal third-quarter results that beat analyst revenue and earnings expectations.

The company posted adjusted earnings per share of $0.85, versus the FactSet analyst consensus estimate of $0.79 on $3 billion in revenue. (Wall Street had expected $2.94 billion.)

The company also boosted its guidance for the full fiscal year. The company now expects non-GAAP EPS in the range of $3.77 to $3.79, compared to its previous projection of $3.65 to $3.70 (and analysts’ expectations of $3.68). It also forecast revenue of $11.415 billion to $11.425 billion, representing year-over-year growth of 24%, compared to previous growth expectations of 22% to 23%.

Through Tuesday’s close, the stock had risen more than 60% in the past month.

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Microsoft releases 7 new models, next-gen quantum chip at Build conference

Microsoft is making it clear it can stand on its own as a competitor in the AI arena.

Today at its annual Microsoft Build developer conference, the company made a flurry of announcements that move it further away from the shadow of its complicated relationship with partner OpenAI.

Among the products announced:

New Nvidia-powered Windows PCs: the Surface Laptop Ultra and Surface RTX Spark Dev Box.
Seven new homegrown AI models: MAI Image-2.5, MAI Image-2.5-Flash, MAIN Transcribe-1.5, MAI Thinking-1, MAI Voice-2, MAIN Voice-2-Flash, and MAI Code-1-Flash.
Majorana 2, the company’s next-gen quantum chip.
Microsoft Scout, an integrated always-on agent built on OpenClaw.
Project Solara, an AI gadget operating system.

Investors were unimpressed, however, as shares were down over 4% after the announcements.

PHASE 2: Noon - Microsoft Build 2026

New Nvidia-powered Windows PCs: the Surface Laptop Ultra and Surface RTX Spark Dev Box.
Seven new homegrown AI models: MAI Image-2.5, MAI Image-2.5-Flash, MAIN Transcribe-1.5, MAI Thinking-1, MAI Voice-2, MAIN Voice-2-Flash, and MAI Code-1-Flash.
Majorana 2, the company’s next-gen quantum chip.
Microsoft Scout, an integrated always-on agent built on OpenClaw.
Project Solara, an AI gadget operating system.