Put simply, the company has a strong competitive position and a sizable market opportunity. Moreover, Upstart plans to bring its technology to other sectors in the future, including credit cards, mortgages, and student loans, addressing the $4.2 trillion consumer lending industry more broadly. Over time, that advantage should snowball, improving consumer access to credit and boosting business for Upstart's lending partners. Here's the bottom line: Upstart collects nearly 1,600 data points per loan applicant, far more than the 12 to 20 variables considered by a typical FICO scorecard. The company is now licensed to refinance auto loans in 47 states, and five banking partners have already adopted the platform for this purpose. Upstart recently expanded beyond the $84 billion personal loans industry, entering the $635 billion auto loans market. Looking ahead, shareholders have plenty of reasons to be excited. TTM: trailing-12-months CAGR: compound annual growth rate. In fact, according to management, Upstart's AI models are four to eight times more accurate than traditional credit scores, allowing lenders to approve nearly three times as many applicants while holding loss rates constant.ĭata source: Upstart SEC filings, YCharts. Its software platform helps lenders like banks and credit unions quantify risk more precisely. Upstart Holdings ( NASDAQ:UPST) brings big data and artificial intelligence (AI) to the consumer credit industry. That's why I plan to add to my position during the next market crash. In short, Tesla is pushing the boundaries of modern technology. And Morgan Stanley analyst Adam Jonas believes Tesla could launch a flying car business by 2050, addressing a potential $9 trillion market.
Once that happens, Tesla plans to start an autonomous ride-sharing service, pioneering a market that Ark Invest values at $1.2 trillion by 2030. In fact, Musk believes the company will have a fully autonomous $25,000 EV on the market within three years. Moreover, Tesla has established itself as a frontrunner in the race to build an autonomous vehicle. The company also plans to open two new factories later this year, further boosting its production capacity.
Tesla recently announced the 4680 battery cell, a new model that will cut costs by 56%, extend range by 54%, and reduce capital expenditures by 69%. Looking ahead, investors should expect this momentum to continue.
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