Analysts were mostly upbeat about Tesla’s earnings, even as investors worried about CEO Elon Musk’s comments about potential “rough” quarters ahead.

Tesla’s sales plunge over the last 18 months has been a stunning turn for a company that recorded only one quarterly year-over-year sales drop before 2024. And the company faces significant trouble ahead.

Tesla is facing stiffer competition globally from electric vehicle players, especially low-cost competitors from China.

Tesla shares tumbled in extended trading Wednesday after the EV maker's quarterly results fell short of Wall Street’s expectations and CEO Elon Musk warned of a "few rough quarters" ahead. Monitor these key chart levels.

Tesla shares sank Thursday after CEO Elon Musk said the company could face a “few rough quarters” as it transitions to a future focused less on selling cars and more on offering people rides in self-driving cars.

The Tesla CEO hosted an earnings call once more long on promises and short on specifics, especially regarding his month-old robotaxi service that has logged only 7,000 driverless miles.