Only Apple Has Shed More Market Cap Than Tesla This Year

Sherwood News

Apple in my Eye

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.

Chris Stokel-Walker

Bot bias

6/17/26

Companies are getting AI chatbots to smear their competitors

The race to influence AI chatbots is leading to some companies to adopt shady competitive tactics.

Tom Jones6/17/26

Prediction markets have, predictably, been given a boost by the summer of sports

Major platforms like Kalshi and Polymarket have seen huge upticks in users of late, thanks in no small part to what’s felt like a recent sporting smorgasbord, with major competitions across hockey, basketball, and soccer soaking up fans’ time (and spending, clearly) at the outset of summer.

While gaming industry groups may not like it, there’s been a huge change in the methods people are using to put money on the big games, with everyone from fortunate NYC bar owners, to a far less fortunate Spanish supporter, turning to prediction markets to try and turn their sports know-how into cold, hard cash.

According to a new report from Adam Blacker for apptopia, that shift might have been even more seismic than imagined in the wake of the NBA and NHL finals and around the 2026 World Cup kicking off.

2026 World Cup Reverses Seasonal Lull for Sports Betting Apps

According to a new report from Adam Blacker for apptopia, that shift might have been even more seismic than imagined in the wake of the NBA and NHL finals and around the 2026 World Cup kicking off.

South by Southwest Conference and Festivals

Gold Tesla Cybercabs are piling up, but they’re not picking up passengers yet

Low-volume production started in April. Now people are noticing them more and more in the wild.

Rani Molla6/15/26

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TAKING ACCOUNTS

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Britain announces social media ban for under-16s starting early 2027

The UK government plans to use the same model for the restrictions as Australia — but how successful has that case study been so far?

UK Prime Minister Announces Under-16s Social Media Ban

Jon Keegan6/15/26

Anthropic pulls Fable and Mythos access worldwide after Trump administration bars their use by foreign nationals

Only days after releasing two versions of its next-gen AI model, Anthropic has disabled them for users worldwide.

Anthropic says it received a Friday night order from the Trump administration to suspend access to the models for any foreign national (anywhere in the world) — a group that included some Anthropic employees. In response, the company turned off access to everyone.

Last week, the company released to the public its much-anticipated Claude Fable 5 model (and its restricted version Claude Mythos 5, which is still being tested with trusted partners). Anthropic said in a blog post announcing the action that officials cited national security concerns with the new models, while offering few specific details.

The post said that the government gave the company “verbal evidence of a potential narrow, non-universal jailbreak” of the public Fable 5 model. A jailbreak is a means by which users can evade restrictions built into the code to unlock prohibited functionality. Anthropic downplayed the significance of the attack, and said other major models, such as OpenAI’s GPT-5.5, could also be affected by the technique described.

Fears of these first Mythos-class models being misused are running high, after Anthropic warned the cybersecurity world in May that the advanced cyber capabilities of Mythos have rapidly discovered thousands of vulnerabilities in ubiquitous software, leading to the decision to restrict the full version of the model to a close group of trusted partners for testing.

This morning, Axios reported that Anthropic technical staff have flown to Washington to meet with White House officials to resolve the issue.

The Wall Street Journal is reporting that the Trump administration’s decision to take action against Anthropic was prompted by discussions that Amazon CEO Andy Jassy had with officials, including Treasury Secretary Scott Bessent. According to the report, Amazon researchers said they had been able to evade some of Fable 5’s security restrictions using specific prompts. Amazon is a major investor in Anthropic.

Anthropic is currently suing the US government to fight the Pentagon’s blacklisting of the company on national security grounds.

Statement on the US government directive to suspend access to Fable 5 and Mythos 5