--- title: "Tesla's Mixed Quarter Brings Cautious Robotics Outlook" canonical: "https://thestockmemo.com/article/tesla-s-mixed-quarter-brings-cautious-robotics-outlook" markdown: "https://thestockmemo.com/article/tesla-s-mixed-quarter-brings-cautious-robotics-outlook.md" type: article published: "2026-10-22T07:14:30.231018+00:00" updated: "2026-10-22T07:14:30.231018+00:00" company: "Tesla Inc" ticker: "TSLA" isin: "US88160R1014" price_as_of: "2026-10-27T08:00:25.382+00:00" image: "https://thestockmemo.com/media/4e81e62e-f7f5-4ce8-bbf8-eff14cc66e49.png" tags: - "Asia" - "Automotive" - "Earnings" --- # Tesla's Mixed Quarter Brings Cautious Robotics Outlook > Tesla's third-quarter results and comments on Optimus and robotaxi timelines sent shares swinging and weighed on Asian suppliers. Tesla reported mixed third-quarter 2026 earnings and cut its full-year capital expenditure forecast to $20 billion from $25 billion. Shares rose 1% after the results, then fell 3% in after-hours trading following Elon Musk's cautious comments on Optimus and robotaxi timelines, while Asian suppliers also declined. ## Key figures | Field | Value | | --- | --- | | Company | Tesla Inc | | Ticker | TSLA ยท NASDAQ | | ISIN | US88160R1014 | | Sector | Automotive | | Price | $391.62 | | Price target | $407.22 | | Upside | +4.0% | | Fair Value | $475.00 | | Rating | Hold | | Sentiment | Neutral | ## What happened Tesla Inc (NASDAQ: TSLA) reported mixed third-quarter earnings and gave a cautious outlook on its robotics and chipmaking ambitions. The company also cut its full-year capital expenditure forecast to $20 billion from $25 billion. Tesla shares rose 1% after the third-quarter beat, then fell 3% in after-hours trading following Elon Musk's comments on the earnings call. Tesla's Asian suppliers fell on Thursday after the mixed results and cautious outlook. South Korean battery suppliers LG Energy Solution and Samsung SDI fell 3% and 4.5%, respectively. Samsung Electronics, which recently signed a $16.5 billion chipmaking partnership with Tesla, saw its shares fall 3.3%. In Japan, battery supplier Panasonic fell 3% while auto parts supplier Harada slid nearly 5%. The spread of those declines across South Korea and Japan suggests Tesla's outlook may matter to its supply chain as much as to its own stock. ## Why it matters Elon Musk tempered expectations for Optimus, Tesla's humanoid robot, saying it is not yet "truly useful for open-ended tasks." He also said the ramp in Optimus production would be "extremely slow." Tesla's filing lists Optimus production in California as "early ramp" and in Texas as "construction approach capacity." Tesla's robotaxi business is already running in Austin, where it began offering Cybercab rides on September 3, 2026. Musk said the robotaxi and cybercab offerings would only factor into revenue by mid-to-late 2027. Tesla's AI5 chip is manufactured at the Samsung Electronics plant in Taylor, Texas. Musk also flagged steep costs for Terafab, a chipmaking venture with SpaceX. Musk's own timeline suggests you may have to wait a while before robots and robotaxis show up in Tesla's revenue. ## By the numbers Tesla posted third-quarter 2026 revenue of $28,046 million, below the $28,341 million average estimate that analysts compiled by Tesla had projected. - Automotive revenue was $20,560 million in the third quarter of 2026, down 3% year over year. - Energy generation and storage revenue fell 16% from a year earlier, to $2,881 million. - Services and other revenue grew 33% year over year, to $4,605 million. - Tesla delivered 486,532 vehicles, down 2% from the third quarter of 2025. - Active Full Self-Driving subscriptions rose 67% year over year, to 1.74 million. - GAAP operating margin, the share of revenue left after operating costs, fell 322 basis points year over year, to 2.6%. - GAAP net income attributable to common stockholders dropped 43% year over year, to $787 million. - Non-GAAP net income attributable to common stockholders was $1,697 million in the third quarter of 2026. - Free cash flow, the cash left after capital spending, was $1,531 million in the third quarter of 2026. Tesla shares were priced at $386.47, up 3.41%. The stock held at $386.47 as of October 21, 2026. Analysts' average price target was $397.83, with a hold rating, as of October 21, 2026. Fair value was $450.00 as of October 21, 2026. Growth in services and self-driving subscriptions next to shrinking car, energy and profit lines appears to explain why the quarter reads as mixed. ## What to watch Tesla plans to integrate its AI5 chip into its humanoid robots by April of next year. That deadline gives you an early checkpoint on whether Tesla's robotics timeline holds. --- ## Legal notices The content on The Stock Memo is general information only. It is not investment advice, a research report prepared for you, or an offer or solicitation to buy or sell any security. Frontier Media Inc. is not a registered investment adviser or broker-dealer. Investing in securities can result in a total loss of the money you put in. Past prices and past results are not a reliable guide to the future. 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