Tesla (TSLA, Financials) achieved a market capitalization exceeding $1 trillion on Friday, following a modest uptick in its share price.

This valuation surpasses the combined worth of the next ten largest automakers, including Toyota (TM, Financials), General Motors (GM, Financials), Ford Motor (F, Financials), and NIO (NIO, Financials).

Deepwater Asset Management's Gene Munster pointed out that planned delivery rise in 2025 as well as Tesla's developments in autonomous driving technology could improve the company's foundations and maybe result in further stock price increase.

Bank of America earlier this week speculated that Tesla would benefit from the outcomes of the most recent U.S. election. As Tesla intends to launch more reasonably priced models, President-elect Trump's suggested relaxing of environmental rules may encourage other manufacturers to halt their manufacturing of electric vehicles, therefore enhancing Tesla's position in the American EV market.

John Murphy, a Bank of America analyst, also pointed out under the next government's potential for less regulatory scrutiny on autonomous driving technology The Trump government apparently responded favorably to Elon Musk's support of a single national framework for self-driving car control.

Driven by Tesla's development into a highly successful robotaxi firm, Cathie Wood's ARK Invest projects that by 2029 Tesla's shares may reach $2,600 per share.

Furthermore, with possible advantages from more tariffs on Chinese electric cars and policies supporting autonomous driving technology, Wedbush Securities analyst Dan Ives has observed that a Trump win may help Tesla.

This article first appeared on GuruFocus.