Bank of America Revamps Tesla Forecasts Ahead of Earnings: Robotaxi and Energy Storage Drive Growth

Tesla (TSLA) CEO Elon Musk, bolstered by stronger delivery performance and an expanding robotaxi network, sees upgraded revenue and profit estimates from Bank of America ahead of the July 22, 2026, second-quarter earnings report. The revised outlook underscores investor focus on future monetization of robotaxis, Optimus, and energy storage.

Robotaxi Expansion Fuels Optimistic Outlook

■2026 revenue estimate: $107.8 billion (previously $103.4 billion)

■2027 revenue estimate: $126.2 billion (previously $120.4 billion)

■2028 revenue estimate: $144 billion (previously $137.2 billion)

■EPS estimates: $2.13 (2026), $2.71 (2027), $3.39 (2028)

■Stock price target: $460 (17.6% upside from $391.06)

Tech Supply Chain Implications

Tesla's robotaxi and Full Self-Driving (FSD) ambitions are reshaping the semiconductor supply chain. Suppliers like ASML are seeing heightened demand for advanced lithography machines, while the China-US rare earth elements conflict intensifies competition for critical materials in energy storage projects. The company’s trajectory aligns with broader trends in autonomous vehicle and AI integration, potentially stabilizing growth compared to volatile tech stocks like Nvidia or AMD.

Bank of America’s quarterly model projects accelerating adjusted EPS ($0.51 in Q2, $0.68 in Q4), signaling Tesla’s resilience amid SpaceX’s operational setbacks. This positions Tesla as a key player in the tech sector’s evolution, where supply chain dynamics and geopolitical tensions converge.