Tesla stock climbs to $340 as Elon Musk targets Apple

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Tesla stock climbs

Highlights

-Tesla is trading at $340.29, supported by strong technical momentum and bullish moving average signals.

-Elon Musk’s conflict with Apple and Tesla’s shift from Dojo to AI6 chip development have reignited investor interest.

-A breakout above $368 could trigger a move toward $380–$400, while $330 serves as key near-term support.

On the technical side, Tesla’s intraday range has widened between $333.28 and $345.69, indicating healthy trading activity. Most moving averages across different time frames (5-day, 20-day, 50-day, and 200-day) are displaying bullish alignment, with the 50-day simple moving average climbing above the 200-day—a classic golden cross pattern often seen as a strong long-term buy signal. Relative Strength Index (RSI) sits around 60, signaling neutral-to-bullish momentum without overbought conditions.

Resistance is currently forming near the $362 to $368 zone. This range has historical significance, with Tesla struggling to sustain momentum above it in early 2024. A close above this threshold would be a major bullish breakout. On the downside, short-term support is seen at $330, with firmer support zones around $312 and $296. These correspond to Fibonacci retracement levels from the recent run-up off June lows.

Tesla stock price dynamics (June 2025 - August 2025). Source: TradingView.

MACD indicators are flat but leaning bullish, while stochastic oscillators remain mixed, indicating some hesitation among traders. Despite this, overall market sentiment remains constructive, with high trading volume (over 80 million shares) supporting the current rally.

Musk’s battle with Apple and shifting AI focus attract bulls

Elon Musk’s open confrontation with Apple over xAI and App Store distribution restrictions has created headline momentum for Tesla. Musk has criticized Apple’s alleged “walled garden” approach, calling for policy changes to allow xAI to integrate with Siri and Apple devices. This public stance, while unrelated to Tesla’s automotive operations directly, reinforces Musk’s aggressive innovation narrative, indirectly benefiting Tesla by bolstering investor confidence in his leadership.

Simultaneously, Tesla’s pivot from the Dojo supercomputer project toward new partnerships with Samsung on AI chip production marks a significant shift. While Dojo’s pause initially raised concerns, Tesla’s stated intention to build a next-gen AI6 chip signals a more focused and scalable AI strategy. This move aligns with broader goals for Tesla’s FSD (Full Self-Driving) and robo-taxi programs, both of which are core to Tesla’s long-term valuation.

Furthermore, Tesla’s stock was buoyed by Musk’s newly approved pay package, which includes a massive restricted stock grant designed to increase his ownership to near 25%. This has alleviated concerns around leadership continuity, particularly after months of legal battles and governance questions. Musk’s stake reinforcement suggests he remains committed to driving long-term growth, which markets interpret as a strong positive.

Breakout toward $380 possible with $330 as near-term support

Looking ahead, Tesla is positioned for potential upside if it can break and close above the $368 resistance zone. This would confirm a bullish continuation pattern and open the door toward $380 and possibly $400 over the coming weeks. Such a move would likely require a new fundamental catalyst—such as FSD subscription growth, xAI deployment milestones, or expanded robotaxi testing.

The base-case scenario sees Tesla trading in the $330–$368 range, consolidating recent gains while awaiting further market signals. This scenario assumes steady macro conditions and no significant corporate disruptions. A bearish case would emerge if TSLA fails to hold above $330, particularly if broader equity markets correct or Tesla’s AI announcements underwhelm.

Tesla is seeing strong demand for its Model Y, with U.S. wait times increasing ahead of the September 30 expiration of the $7,500 federal EV tax credit. This surge may boost Q3 deliveries despite rising global EV competition.

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