Can Tesla continue its winning streak to 14-straight sessions? Yahoo Finance markets reporter Jared Blikre breaks down the EV maker's consecutive gains and its parallels to the AI rally driving tech stocks.

Video Transcript

DIANE KING HALL: Shares of Tesla in focus as the EV leader's record winning streak tries to turn on. It's hitting a little bit of a speed bump here. Can we hit 14 sessions in a row closing higher? "Yahoo Finance's" Jared Blikre is at the New York Stock Exchange with a deeper dive on Tesla. Hi. Jared.

JARED BLIKRE: Hey, Diane. Let's take a look at the YFi interactive. And we can see, first of all, Tesla is no NVIDIA. Market cap a little bit lower than NVIDIA. It's only $814 billion. NVIDIA crossed that $1 trillion mark only yesterday.

But we do have some notes here from Adam Jonas over at Morgan Stanley. And let me just pull those up. Because it's always been-- the story about Tesla has been about their mode, about their investment in technology, their autonomous driving, how that database really gives them an edge over their competition. Because they don't want to be valued like GM or Ford or Volkswagen. They want to be valued like a tech company. Because that gets the stock price higher.

So here, we have on the YFi interactive, Morgan Stanley saying market wants to believe Tesla is an AI name first and auto company second. He suspects many investors may be, again, looking at ways to justify the valuation beyond the confines of a unit X price automotive hardware model. So he's not expecting material upside earning revisions for Tesla. Nevertheless, if Tesla is an AI story, guess what? That's a bubble story.

And so I would just take that to mean, OK, Tesla is going to be part of the next bubble. Now, this is very early on in this bubble. I think this is probably the first wave. Have we seen the peak? I don't know yet. But what I do find encouraging, overall, is that we have really broadened this rally out. And we're seeing a lot of other sectors participate. I'm going to be doing a deep dive on this in the 11:00 AM hour.

But just check out what's happening. Today, energy and financials are in the forefront. But let's take a look over the last 10 days. Consumer discretionary, that's retail, that is up 9% followed by materials. That's definitely a cyclical play followed by industrials, and then energy and financials. All of this together means that the rally is getting a bit healthier. And that's very supportive because we were talking about the huge concentration risk in the market only a few days, maybe a few weeks ago.