Tesla's Full Self-Driving Business Is Growing Fast. But There's a Catch for Investors

Impact · against what's priced in

The reported FSD subscription growth is positive but does not shift the stock's valuation, as it represents a modest incremental improvement rather than the high-margin paradigm shift the market currently refuses to price in. The mixed financial results and delivery decline align with the existing bearish lean on the automotive core.

TSLA+0.00

Already priced in

The price assumes

A modest, incremental improvement in autonomy software, but not a near-term, high-margin paradigm shift.