Protestors at a Tesla dealership in New York (Leonardo Munoz/Getty Images)

Electric Shock

Tesla stock is slumping into the weekend

Blame tariffs, protests, and Q1 delivery estimates.

3/28/25 1:30PM

Tesla’s stock is down 3.3% today. And while, as we’ve mentioned before, the stock doesn’t really need specific reasons to jump up or down, three factors are likely weighing on it ahead of the weekend.

1) Trump tariffs are going to hurt Tesla, too

While Tesla is more sheltered from President Trump’s auto tariffs than other car companies because it domestically manufactures its electric vehicles sold in the US, levies on parts it imports are certainly going to take a toll. Tariffs negatively affect the company’s aim to lower prices and raise margins. Don’t believe us? CEO Elon Musk, Tesla leadership, and the biggest Tesla bull out there, Wedbush Securities analyst Dan Ives, have all said so.

2) Protests are scheduled at Tesla locations around the country Saturday

While it might be tough to put an exact number on how damaging the recent string of Tesla protests have been to the brand’s bottom line, having people picketing out front of hundreds of Tesla locations nationewide this weekend doesn’t seem like it’s going to help. An FBI task force to “crack down on violent Tesla attacks” also doesn’t breed brand confidence. Already, Americans’ impression of the company is at an all-time low, following Musk’s forays into American politics. The vast majority of people are aware of the brand, but don’t want to buy it. And the number of used Teslas listed for sale has jumped 33% this year.

3) It reports Q1 deliveries next week and they’re expected to sting

Tesla is scheduled to report Q1 deliveries before market opening next Wednesday, April 2, and by most accounts vehicle sales are not headed toward Tesla’s promised “return to growth.” A Tesla-compiled list of analyst estimates pegs deliveries at 377,000, down from last year’s 387,000 first-quarter deliveries. Estimates this week from Wedbush and Deutsche Bank are even lower, predicting up to an 11% year-on-year decline.

Rani Molla14m

T-Mobile and Verizon are seeing strong iPhone sales, too

T-Mobile and Verizon are seeing strong demand for the latest iPhone, according to a note today from Bank of America Global Research:

“As per T-Mobile mgmt., iPhone activations are up double digits (new and existing customers). Verizon mgmt. commentary also suggests strong upgrade activity in its existing base during the quarter.”

This is one of several indicators pointing to a strong upgrade cycle for the redesigned iPhone.

Early this month, a survey of iPhone users found that a higher percentage intended to upgrade than did last year. BofA and Wedbush Securities’ Dan Ives have both cited longer shipment times for the latest model than last year, suggesting relatively higher demand. The Information said that Apple asked suppliers to boost production of the iPhone 17 following strong preorder activity. Bloomberg reported long lines and sold-out phones when the devices went on sale last week. BGR noted today that the iPhone 17 and iPhone 17 Pro are still sold out online in the US.

Last week, Sherwood News reported that web traffic to Apple for the iPhone event and for the preorder period were elevated compared with the past few years, though we suggested that might have more to do with a natural upgrade cycle than features on the iPhone 17.

The AI infrastructure debate’s heating up, as spending on data centers set to outpace office construction

Multiple gargantuan data center projects got announced this week — some people see huge risks of fruitless spending, while others, like Sam Altman, think the build-out could be too slow.

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Waymo Recalls Over 1200 Driverless Cars After Collisions Related To Software

Waymo, Lyft, Tesla: Who’s behind the wheel of the US robotaxi industry?

When it comes to autonomous ride hailing, no company is an island — except maybe Tesla. We mapped out the relationships.

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Big Jump

Ives raises Tesla price target to Wall Street high of $600

The Wedbush analyst said investors are “underestimating the transformation underway at the company” regarding AI.

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Report: Meta has discussed using Google’s AI to help with ads

Meta has a huge advertising business, and it wants it to get even bigger with the help of AI, with ambitions to create tools that will help businesses create, place, and track ads with just a quick conversation with an AI chatbot. But it seems the social media company, whose AI models have lagged its competitors and which is spending gobs of money to fix it, might need some help getting there. The Information reports that Meta has been in talks with Google to use the latter’s AI models to improve its ad business.

It may be an interim step for Meta, but it’s a big deal, as The Information notes:

“The fact that Meta is considering using Google’s technology for advertising is striking. Advertising is the engine behind Meta’s $164.5 billion revenue empire, and Meta executives have highlighted improvements to advertising as a top opportunity coming out of the company’s investments in AI.”

Meta in Talks With Google to Use Gemini to Improve Ad Efforts