Tesla jumps after posting videos teasing tomorrow’s date. Will a long-awaited new model be announced?

Tesla is up more than 2% premarket after posting videos online that teased what seems to be an imminent product announcement or event. One video posted on X Sunday depicts a spinning Tesla wheel and ends with “10/7.” Another shows just the headlights of a vehicle against a black background.

It’s not clear yet whether the company will showcase its long-awaited Roadster, its long-awaited affordable car (which is likely just a stripped-down Model Y), or something else. Tesla promised more affordable models would go into production in the first half of the year, but we’re midway through the second half and this is the first potential indication of their arrival.

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— Tesla (@Tesla) October 6, 2025

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Rani Molla

AIs Wide Open

More details about OpenAI’s AI device: Palm-sized with multiple cameras potentially

The screenless AI companion device is supposed to launch next year.

David Crowther & Rani Molla3h

OpenAI’s social app for AI videos, Sora, spent the weekend at the top of the App Store rankings

Last week OpenAI unveiled Sora, an AI-only social media app for its latest text-to-video generation model Sora 2. Despite the obvious threat of copyright lawsuits from just about every major studio, artist, or creative owner, the app’s release has prompted a deluge of AI slop invading social media feeds on TikTok, Instagram, X, Threads, Reddit, and more.

But the true home for the always bizarre, often realistic, and occasionally funny clips was on its dedicated iOS social app where they were made.

Designed for people to “create, remix each other’s generations” and “discover new videos in a customizable Sora feed,” the app allows users to bring themselves into videos via cameos. They can also “cameo” others. And, while that might creep some people out, others are apparently loving it. The currently invite-only app spent the weekend at the top of the free App Store in the US, after bumping Google’s Gemini from the top slot last week.

Per data from Appfigures, Sora continued to beat out rival AI apps like Gemini and sister app ChatGPT to the top spot over the weekend. You are going to see a lot more AI-generated videos over the coming years. Brace yourself.

Rani Molla10/3/25

Jefferies downgrades Apple to “underperform,” calls iPhone sales expectations “excessive”

Sure, Apple’s latest iPhone is selling better than some previous models, but that’s already reflected in the stock, Jefferies analysts wrote in a note today. In it they downgraded the stock to “underperform” and kept the price target roughly flat at $205.

The analysts argue the sales bump stems from high trade-in values and the lack of price hikes, rather than “new form factor or tech innovations.” As we recently noted, it could also have something to do with a natural upgrade cycle rather than consumers going nuts over NITS.

The analysts say the positive sales momentum for the iPhone 17 has engendered “excessive expectations” for the replacement cycle as well as for the company’s upcoming foldable iPhone.

“We do not doubt AAPL will be able to make the most beautiful foldable phone in the market, but the question is the TAM [total addressable market] of a US$2K phone,” they wrote.

Rani Molla10/3/25

JPMorgan reiterates “underweight” rating after Tesla delivery beat

While Tesla delivered a massive delivery beat yesterday, JPMorgan analyst Ryan Brinkman wants to remind investors to put that beat into context:

He noted that the surge was likely a temporary one thanks to pulled-forward demand by consumers hoping to capitalize on the $7,500 tax credit that ended September 30. That pull forward will necessarily mean fewer purchases later, and the end of the tax credit “ultimately will negatively impact Tesla deliveries as soon as October 1.” He added that the analyst consensus still expects Tesla’s full-year sales to decline.
Tesla’s beat, Brinkman said, was in part due to analysts having dramatically lowered their previous estimates amid falling sales. While the nearly 500,000 deliveries in Q3 were about 12% higher than the analyst consensus right before the numbers came out, he noted that analyst expectations have been grinding lower for years. He pointed out that Street estimates for Q3 2025 deliveries peaked at 1.1 million in 2022. While the company missed that peak estimate by 56%, the stock is up 81% in the intervening years.

JPMorgan raised its third-quarter earnings-per-share and free cash flow estimates on the delivery numbers, but reiterated its “underweight” rating for the stock.

Rani Molla10/3/25

OpenAI’s Sora has bumped Google’s Gemini and OpenAI’s ChatGPT from the top of the App Store

OpenAI’s AI-only social media app, Sora, launched three days ago and is already No. 1 on the US free App Store, where it has displaced regular favorite AI apps Gemini from Google and ChatGPT, OpenAI’s main app. It’s an especially impressive feat given that for now the highly addictive, legally murky app is invite-only.

Of course, many a buzzy app has surged up the App Store ranks only to fizzle over time. We’ll see what happens with Sora.

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