In the last Q3 earnings call, Elon Musk mentioned that for the first time ever, he sees a potential for Tesla to be worth more than Apple and Saudi Aramco combined. For context, those are the world’s two biggest companies worth a total of $4.35 Trillion.

The market and many investors see Musk’s comment as ludicrous. His exact words were, “Tesla can far exceed Apple’s current market cap” he added, “I can see a potential path for Tesla to be worth more than Apple and Saudi Aramco combined. Doesn’t mean it will happen overnight or it will be easy but for the first time I can see a way for Tesla to be roughly twice the value of Saudi Aramco”

As mentioned above, a lot of investors think that this assumption of Musk is quite crazy but only a few know that back in 2015, he made a similar prediction when he said Tesla would be worth $700 Billion by 2025. Tesla ended up being worth $700 Billion by December 2020. 5 years earlier than predicted.

Tesla currently stands at a market cap of $707 Billion. And it’s stock now trades around at a price of $226, which means that the stock will have to reach a price of around $1356 to fulfill Musk’s vision.

In the same call, he also answered a question regarding Tesla’s annual growth for the foreseeable future and he said that the company still forecasts a 50% CAGR. And in addition to the increasing demand that Tesla is currently seeing, the company will start the production and deliveries of the long-awaited Cybertruck and Semi Truck soon.

You never know what a person like Elon Musk can pull off and it’s probably smart to not bet against him!