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Tesla CEO Musk says market cap could match Apple's $700 billion by 2025
February 12, 2015 / 2:21 AM / 3 years ago

Tesla CEO Musk says market cap could match Apple's $700 billion by 2025

DETROIT (Reuters) - Tesla Motors Inc Chief Executive Officer Elon Musk said on Wednesday the electric car company’s growth trajectory could take its market capitalization to $700 billion by 2025, matching that of Apple Inc.

Tesla Motors CEO Elon Musk talks at the Automotive World News Congress at the Renaissance Center in Detroit, Michigan, January 13, 2015. REUTERS/Rebecca Cook

Musk told analysts that Tesla’s revenue this year could grow to $6 billion, from $3.2 billion in 2014. His 2025 market-cap prediction assumes 50 percent annual revenue growth and a price-to-equity ratio for the stock of 20.

Musk said Tesla’s $35,000 Model 3 should be in production by the second half of 2017, and that its design will not be as “adventurous” as that of the gullwinged Model X crossover, in order to keep the production schedule on track.

Reporting by Paul Lienert; Editing by Lisa Shumaker

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