Wedbush analyst also cuts Apple target

Last Updated: April 7, 2025 at 5:40 a.m. ET

First Published: April 6, 2025 at 6:33 p.m. ET

One of Wall Street’s biggest fans of Tesla Inc. and Apple Inc. has slashed his price targets for both stocks in the wake of recent developments.

Wedbush Securities analyst Dan Ives cut his price target for Tesla stock TSLA by 43%, from $550 to $315, due to tariffs and Chief Executive Elon Musk’s controversial cost-cutting role with the Trump administration. Shares of Tesla tumbled over 7% in premarket trading on Monday.

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