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Elon Musk was surprised Wednesday when he told investors he sees an opportunity for Tesla to eventually surpass the market capitalization of the world’s two richest companies combined.

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Tesla’s market capitalization is currently $670 billion and the company still has a long way to go before it hits No. 2 Saudi Aramco with $2.085 trillion or No. 1 Apple with $2.37 trillion, not to mention about their combined value of more than $4 trillion.

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But the richest man in the world is known for setting bold and ambitious goals—and often achieving them. With that in mind, two FOX Business employees assessed Musk’s chances of expanding Tesla and making it the most valuable company in the world.

“In the short term, Tesla outperforms Market capitalization of Apple seems like a daunting task,” says Steve Miran, co-founder of Amberwave Partners. “However, while Tesla has some influence in China, predominantly as a customer, Apple’s supply chain influence is potentially fatal.”


Miran says the recent U.S. restrictions on semiconductors have been viewed by the Chinese leadership as an attack on China’s technology gem, and if the coming retaliation is an attack on the supposed U.S. technology gem, Apple could be dealt a death blow.

“If that happens,” Miran continued, “Tesla will quickly surpass Apple’s market capitalization.”


Scott Martin, chief investment officer at Kingsview Wealth Management, says he’s not surprised to hear Musk set his sights high on companies he wants to match or outperform, given that the multibillionaire has a penchant for shooting for the stars.

He points to how Apple has created its own ecosphere with “services, software, phones, music… that’s pretty hard to get away from when you’re logged in.”


Martin says he thinks this is perhaps what Musk is trying to emulate through the purchase of Twitter and some of his other initiatives outside of Tesla – trying to gain a foothold in people’s lives.

Ticker Safety Last Change Change %
TSLA Tesla Inc. 214.44 +7.16 +3.45%
AAPL APPLE INC. 147.27 +3.88 +2.71%
Twitter No No No No

But looking solely at Tesla, Martin points to how Musk has turned it not just into a car company, but into a battery company, solar panels, technology company. He also notes that the government’s future plans for electric vehicles and other environmental initiatives mean Musk is “in the right category.”

While Tesla dominated electric vehicle market For now, Martin notes that the competition is getting fierce as major automakers start to roll out less expensive models as more consumers switch to electric vehicles.

Elon Musk and Olaf Scholz

Whether it’s Elucid or Rivian or Porsche, or whatever you have, as they get more experienced, theoretically they should be building better cars. They need to be able to achieve greater and greater efficiency, better technology,” Martin said. “The tide is lifting all the boats, but you will need a big tide because more and more companies are coming on the scene, the same.”

As for Tesla reaching the same market capitalization as Apple, Martin says, “It can still happen.”


Another thing that works in Musk’s favor, according to Martin, is that he’s being followed by people who trust what he’s doing.

“He has such an aura that people just want to be involved in what he does,” Martin told FOX News Digital. “It has the allure of this innovation that stands out from some of the other competitors. And if he can keep it…”