Ross Gerber Says Tesla Is 'Like Apple 15 Years Ago But Better'

On a recent episode of CNBC’s “Last Call,” Ross Gerber, CEO and President of Gerber Kawasaki, drew a parallel between Apple Inc. AAPL and Elon Musk‘s Tesla Inc. TSLA while discussing the impact of recent Federal Reserve rate hikes on car companies.

What Happened: Gerber expressed concern that the rate hikes are affecting people’s purchasing power for cars and houses, which could potentially harm car companies. He specifically mentioned Tesla, suggesting that a longer-term vision would help investors understand the company’s potential.

Gerber drew a comparison between Tesla and Apple, likening the former to the latter 15 years ago.

“When you look at things like charging, and storage, and full self-driving, as the whole picture, it [Tesla] looks so much like Apple but better, like 15 years ago and it is a huge opportunity,” he said.

See Also: Elon Musk Drops Clues About Tesla’s Potential Partnership With Major Automaker To License Self-Driving Technology

Why It Matters: Gerber’s comments come in the wake of Tesla’s Q2 earnings report, which showed a 47% year-over-year increase in revenue, beating Wall Street consensus estimates.

Despite the positive results, the impact of Federal Reserve rate hikes on consumer purchasing power could pose challenges for Tesla and other car companies in the coming months.

Gerber’s comparison of Tesla to Apple 15 years ago suggests he sees significant growth potential for the company, particularly in the areas of charging, storage, and full self-driving. These areas are key components of Tesla’s business model and could drive the company’s growth in the coming years.

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