Tesla (TSLA) shares are trending lower as Deutsche Bank cut its price target from $300 to $285 citing growth and production concerns for 2024. EV maker Lucid (LCID) will become the first automaker to open up a manufacturing facility in Saudi Arabia. To start it will have the capacity to assemble 5,000 new vehicles per year, but once finished can reportedly produce 155,000 new vehicles per year. Cloudflare (NET) is launching a suite of products and apps to assist customers with deploying AI. The company will also partner with Meta (META) to make the Llama 2 open-source large language model available to developers building AI applications on Cloudflare's developer platform, Workers. NextEra Energy (NEE) shares are falling after the company reduced its growth expectations through 2026. The company also announced a sale of its Florida city gas utility for $923 million. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
Former President Donald Trump now enters the spotlight in Michigan, following a historic visit by President Biden to the UAW (United Auto Workers) picket line. Meanwhile, Ford and GM square off over EV tax credits.
Enphase Energy (NASDAQ: ENPH) creates batteries and microinverters for homeowners and businesses, and in the current macroeconomic climate, the company has been no stranger to operational hurdles. One of the biggest threats to Enphase is the competitive landscape, with Tesla, SolarEdge Technologies, and others marketing toward the same customer base. Installing solar energy in your home is not cheap.