After soaring in 2023 and 2024, shares of Tesla (NASDAQ:TSLA) were battered throughout Q1 2025. But since the start of Q2, the largest U.S. EV-maker was beginning to see its shares bounce back nicely.

A lot of Tesla's stock price is betting on the future potential of the company's initiatives outside of traditional EV sales. Most recently, Elon Musk claimed that robotics could help Tesla's market cap get to $30 trillion, making it by far the most valuable company in the world.

Tesla would need to grow earnings at a very high rate over an extended span to justify its current stock multiple.