Earnings Edge for the Week Ahead: Previews for Tesla, Intel, ServiceNow, Vertiv, UnitedHealth, American Express, Boeing, IBM, Intuitive Surgical, Lam Research, Nokia, and DR Horton

We’ll have our regular daily posts with Setups for ALL reporters, but I wanted to highlight some of the larger / more interesting names as we head into the week.

Relative Winners and Losers

Names of Note

Tesla (TSLA)

Bull Bullets: Robotaxi commercialization inflection, energy storage TAM expansion, and AI platform re-rating

• Tesla’s Austin Robotaxi fleet has reached 135 vehicles in active service, with commercial expansion to multiple cities planned for 2026 and FSD v14.3 rolling out broadly. Morgan Stanley estimates Tesla’s cost-per-mile at $0.81, well below Waymo ($1.43) and traditional rideshare ($1.71), suggesting a compelling unit economics advantage if regulatory approvals scale. Bank of America reinstated coverage with a $460 target, citing the vision-only approach as a scalable cost advantage.

• Tesla Energy is emerging as a meaningful profit contributor, generating $12.77 billion at ~30% margins in FY2025 and targeting further scale via the Shanghai Megafactory and Megapack 3 launches. This high-margin business diversifies Tesla away from the increasingly competitive EV market and could contribute ~25% of total company profits in 2026. The energy storage TAM is expanding rapidly as global demand for grid-scale battery solutions accelerates.

• The Cybercab production ramp beginning this month, Semi volume production plans, and Optimus v2.5 commercial sales expected by late 2026 collectively represent optionality that is not fully priced in many analyst models. FSD subscriptions grew 38% year-over-year to 1.1 million, validating the software monetization flywheel. Strong European demand (France +203%, Denmark +144% Q1 registrations) suggests the refreshed Model Y is resonating.

Bear Bullets: Q1 delivery miss, brand damage from political association, and extreme valuation disconnect