After a 30% drop in less than a month, it’s fair to say that Wall Street is more divided on Tesla Inc. (NASDAQ: TSLA) than it has been in years. The company's latest earnings report, released last week, delivered a jarring split between record headline revenue and a sharp deterioration in profitability, and the market has been trying to make sense of it in the days since.
Out of that confusion, two starkly different visions of Tesla's future have emerged. One camp sees a core business whose margins are collapsing under the weight of enormous artificial intelligence spending, and is heading for the exit.
