Elon Musk has a history of making bold predictions. The post Elon Musk just said Tesla stock could 10x from here. Is he right? appeared first on The Motley Fool Australia.

Musk is betting big on AI, AVs and Optimus, believing they'll make Tesla the world's most valuable company. But should you buy the stock on his optimism?

The final earnings release of 2024 finalized another difficult year for Tesla’s bottom line, as its full-year net income came in at $8.4 billion, a 23% decrease from 2023 and a 40% decline from 2022’s record $14.1 billion profit, though its full-year revenue rose $97.7 billion, a 1% improvement from 2023’s record.

Musk, who also runs SpaceX and a number of other companies, has been known to make big often exaggerated promises. For example, he once called the Hyperloop, which was never built, the "fifth mode of transport" and famously promised to take Tesla private in a Twitter post, saying he had secured financing that he didn't have.