Tesla (TSLA) Projects $320B Robotaxi Revenue by 2035

JPMorgan forecasts Tesla (TSLA) will generate $320 billion in robotaxi revenue by 2035, with approximately $314 billion from Tesla's own fleet. In Q2 FY2026, Tesla reported revenue of $28.24 billion, which is a 25.5% increase year-over-year, but non-GAAP EPS of $0.33 fell short of the $0.54 consensus. The forward P/E ratio stands at 152, and the Q2 operating margin contracted to 1.4%, alongside a negative free cash flow of -$1.09 billion. This revaluation of Tesla's robotaxi potential emphasizes the company's shift toward a capital-heavy operation, impacting investors' expectations regarding potential earnings from their own vehicles.