Cathie Wood's Tesla Bets Bet on Robotaxis Over Auto Sales

ARK Invest spent $27.8 million on Tesla shares during a week in early April 2026. This occurred after Tesla's first-quarter 2026 delivery figures of 358,023 units fell short of projections of 370,000. The production-delivery gap exceeded 50,000 vehicles, the largest single-quarter disparity in the company's history. BYD has formally surpassed Tesla as the biggest producer of electric vehicles worldwide. Demand in one of Tesla's strongest markets declined after the $7,500 federal EV tax credit expired in 2025. JPMorgan analyst Ryan Brinkman maintains an "Underweight" rating with a price target of $145. ARK Invest's 2026 Tesla model predicts the robotaxi division will account for over half of the company's EBITDA and roughly 60% of its expected value. ARK's 2026 price target for Tesla is $4,600 per share.