Jul 24, 2025 12:56:05 PM

The Cookie Crumbles: Tesla vs Alphabet

author

Mark Malek

<span id="hs_cos_wrapper_name" class="hs_cos_wrapper hs_cos_wrapper_meta_field hs_cos_wrapper_type_text" style="" data-hs-cos-general-type="meta_field" data-hs-cos-type="text" >The Cookie Crumbles: Tesla vs Alphabet</span>

Tesla missed, Alphabet crushed it. But guess who gets the 180x PE multiple?

KEY TAKEAWAYS

Tesla’s valuation is heavily based on future growth rather than current fundamentals
Q2 earnings revealed weak free cash flow and shrinking unit sales
Alphabet’s Q2 results were strong across revenue, margins, and all major segments
Despite strong fundamentals, Alphabet trades at a lower valuation than peers
The black and white cookie serves as a metaphor for balancing growth expectations

MY HOT TAKES

Tesla’s $300+ stock price might be more about Musk than math
Alphabet is being priced like a legacy media company, not an AI leader
Investors are rewarding hype over earnings—again
Valuation gaps like this won’t last forever
Not all growth is created equal—some of it actually earns money
You can quote me: “With Tesla, it would appear that the vast amount of the company’s share price can be attributed to the what may be versus the what is.”

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