Tesla's (TSLA) record deliveries highlight a "trophy-case quarter," says Wedbush managing director and analyst Dan Ives.
"This was a jaw-dropper quarter," Ives told Yahoo Finance Live. "This just shows massive momentum in terms of the green tidal wave going into 2022."
The EV giant delivered 308,600 electric cars in the fourth quarter of last year, well above Wall Street expectations. Deliveries for the full year totaled 936,172, an 87% y/y increase.
"Musk has had the golden touch when you look at how Tesla has been able to navigate the chip shortage," said Ives. Last year engineers were able to rewrite software for chips amid an industry-wide shortage.
The fourth quarter delivery results showcase Tesla's scalability within the electric vehicle (EV) landscape.
"In EV-land, it's Tesla's world, and everyone else is paying rent at this point," said Ives. "It all comes down to scale, and in this quarter, Tesla definitely flexed their muscle."
"I think we're only third inning of the whole Tesla growth story playing out," said Ives. He sees massive tailwinds for the company as the China market continues to grow, and new factories near Berlin and Austin come online.
Ives predicts Tesla will hit a $2 trillion market capitalization in about 18 months. The company hit $1 trillion in valuation for the first time in October of last year.
Tesla shares were trading more than 12% higher during the session on Monday afternoon.
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