JPMorgan Warns of 60% Tesla Plunge as Inventory Hits Record

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2026-04-07 03:58:03

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JPMorgan's Ryan Brinkman doubled down on his Tesla bear thesis, maintaining a $145 price target after Q1 deliveries missed estimates. The 358,023 vehicles delivered represent a 14% quarterly drop and 4% below consensus. More alarming: Tesla built 50,363 excess vehicles, ballooning inventory to 164,000 units - a record glut that could pressure margins.

The bank slashed EPS estimates to $0.30 (Q1) and $1.80 (FY2026), citing deteriorating fundamentals. TSLA's 20% YTD decline makes it the worst performer among Magnificent Seven stocks. Brinkman's call implies another 60% downside from current $354 levels.

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