Well, electric vehicles (EV) are making headlines once again and no one is surprised to see Tesla’s (TSLA) name being thrown around.
Tesla was all over the news for several reasons. One being the company breeched the $1,000 per share mark this week and hit a new high of $1,100 per share. The company also hit an impressive market cap milestone recently, at $1.08 trillion.
Even more impressive, one of my Project Mastermind stocks has been all over the news in relation to their new, state of the art battery for Tesla. And the company may surprise you!
Panasonic Corporation (PCRFY) just unveiled a new prototype lithium iron phosphate (LFP) battery. The PCRFY battery is five times the size of those currently used by Tesla. However, these new batteries only cost half as much to make and last five times longer than the previous batteries used by Tesla.
And that’s not all. The new battery is projected to boost production at Panasonic 100-fold by the end of the decade. Pretty impressive if you ask me!
My Accelerated Profits subscribers are already well-versed in Panasonic, as I recommended the stock to them back in August, after my Project Mastermind system flagged the name. I should add that when I recommended the stock, the news of their business partnership was just speculation with no prototype battery to show for it.
Now with the prototype set, Panasonic is seeing the fruits of their labor roll in. This week, the stock was up 8% and the company raised their profit outlook by 12% thanks to a share valuation gain.
Longer term, Panasonic is also developing a solid-state battery with Toyota—and it could revolutionize the EV industry. So, as EVs grow in popularity, Panasonic is poised to prosper as a major Tesla supplier, as well as a one of the winners in the race to make solid-state batteries.
What’s great is that battery demand is already adding to Panasonic’s top and bottom lines. During its first quarter in fiscal year 2022, earnings surged to 104.4 billion yen, compared to 3.8 billion yen in the same quarter a year ago. That exceeded expectations by 50% and represented the company’s strongest profit in a first quarter in more than a decade. Panasonic’s Automotive division achieved earnings of 9.8 billion yen, which was up from a loss in the same quarter last year. Panasonic also expects to report full-year 2022 earnings of 330 billion yen.
To get my latest buy advice on Panasonic, click here to subscribe to my Accelerated Profits service. You will get immediate access to the portfolio, including my brand-new recommendation found with my Project Mastermind system, released yesterday. This is a fundamentally superior stock that’s been firing on all cylinders, and I don’t expect it to tap the brakes anytime soon.
The company’s third-quarter earnings report is scheduled for next Wednesday. And currently, analysts are calling for triple-digit year-over-year earnings growth and double-digit year-over-year revenue growth. Over the past 90 days, analysts have revised their earnings estimates 82%. Positive analyst revisions typically precede positive earnings surprises, so an earnings beat could be in the offing.
If you want to get in now before the company’s earnings report next week, now is the time to do so. Click here for full details.
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Panasonic Corporation (PCRFY)