Tesla's current valuation reflects significant optimism in new ventures like Robotaxi, FSD, and Humanoid robot, warranting a Sell rating.

My SOTP valuation suggests a fair value of $370 for Tesla, despite optimistic assumptions. ~40% of the value is from Robotaxi (cybercab).

Elon Musk's projection of 2-4m units annual production of cybercab looks super aggressive. Competitor Waymo only operates 700 driverless cars after six years of development.

I believe Tesla is overvalued. A certain level of imagination is required, and you need Robotaxi to be very successful if you want to justify a Buy at this level.

Microsoft's positioning in the AI revolution is absolutely unique, and the current valuation presents a unique buying opportunity. I have been invested in MSFT for several years and I keep buying this deeply undervalued AI champion.