Musk: Tesla could be worth ‘more than Apple and Saudi Aramco combined’

Pointing to past performance as an indicator, Musk tells analysts during an earnings call, that he sees a path for the auto manufacturer to become the most valuable company in the world.

I see a potential path for Tesla to be worth more than Apple and Saudi Aramco combined. I see a way for Tesla to be roughly twice the value of Saudi Aramco. This is the first time I’ve seen that potential.

Apple and Saudi Aramco are valued at about $2.3 trillion and $2.1 trillion. That growth would imply an over $4T market cap for Tesla. Musk has previously made good on bullish promises. For example, he proclaimed in 2015 that the automaker would exceed a $700B valuation. At the time, the company was worth only about $25B.