Cathie on CNBC recap:
- Does not think rates are the reason for the dip: Market never priced in 0.5 or 1.5 rates; over time has been normalized to 3 to 5%
- Investors used to low rates, have shaken investors; a bit of confusion and paralysis + rapid rotation into value
- Bond market has been in a 40 year bull market
- Perspective: This happened in Q4 2016 after Trump was elected; market priced in a strong cycle (ARK strategies went negative)
- Believes bull market broadening out to incorporate value sectors - she believes this is better than market narrowing
- Bull market is strengthening and will play in ARK's favor over long term
- Regarding TSLA: Publish new forecast within 1-2 weeks; confidence has gone up for 2 reasons (1 - did not lose market share of EV although will lose share as more vehicles come out, share is not 80% in US market and over 20% world wide; 2- autonomous FSD beta offering over the weekend was massive and much higher demand than analysts expect therefore price targets up)
- Self driving tech: TSLA has been staging autonomous very differently than other companies (national strategy vs market-by-market for WAYMO, etc). This is misunderstood.
- Comparison to AMZN's 9 year flat share price in the 90's is not the same as the market was not ready for the technology (ie. internet was not widespread); and AMZN did not show substantial profitability while TSLA has already passed through that phase (leading on battery tech, AI, cost is lower, in-house chip design like AAPL).
- Largest pool of data is going to win AI game
- This is TSLA's market to lose - we're not in the tech/telecom bust
*end part 1*