Shares rose 6.6% to close above $2000 for the first time, with a market value of more than $372 billion. Since the beginning of this year, Tesla’s share price has risen by more than 300%, surpassing Toyota as the world’s highest value automobile company; since August 11 alone, Tesla’s share price has risen by 45%. The skyrocketing share price of Tesla is also a representative of the feast of American technology stocks. At the end of Thursday, the market capitalization of seven technology giants, including apple, Google, Amazon, Facebook, Microsoft, Tesla and Netflix, totaled more than $7.7 trillion. < p > < p > Tesla announced last week that it would carry out a 5-to-1 split of its shares, which will take effect on August 31, the first time since Tesla went public. The spin off means more retail investors can afford Tesla shares. Analysts believe that the stock prices of the companies sought after by the market will continue to rise after the stock split. Apple also recently announced its fifth share split in history. Apple’s shares rose more than 2% to $473 on Thursday, with its market value exceeding $2 trillion for the first time. Deng Zhijian, director of investment strategy of DBS Bank (China), told the first financial reporter: “many successful enterprises have experienced many stock splits, and their stock prices will continue to break the top in the future. But the key factor driving up the stock price is not the split, but the real profits of the enterprise. How enterprises operate and whether there is room for increase in profitability are more important to stock prices. ” < p > < p > behind the capital feast pushing the stock price of high-tech companies is the surging P / E ratio of enterprises. Amazon’s P / E ratio is more than 123 times, while Tesla’s is as high as 148 times. Deng Zhijian said that the company’s P / E ratio will not change because of the split. Xu Yang, managing director and global partner of Boston Consulting, told the first financial reporter: “the most important thing investors will pay attention to in the future is Tesla’s profit, which is a very important watershed for the electric vehicle industry.” In the financial report released at the end of last month, Tesla recorded for the first time a year’s profit, consolidating its position as the “number one player” in the field of electric vehicles. According to the target set by Tesla CEO musk, Tesla will deliver 500000 electric vehicles this year. Xu Yang also pointed out to the first financial reporter that Tesla has operations in both China and the United States, which is a good resistance to supply chain risks. In addition, the integration capability of Tesla’s product software is faster than that of the industry for many years, causing some competitors to imitate Tesla’s technical route, which will further distance Tesla from its competitors. < / P > < p > “the impact of the brand is now equivalent to the early days of the iPhone in the smartphone sector, and these factors support Tesla’s future growth.” “Of course, the automobile industry is still a highly cyclical industry, which will follow the trend of the whole economic development,” Xu Yang told the first financial reporter < / P > < p > in the coming month, investors will also pay attention to Tesla’s upcoming “battery day” on September 22. Tesla is investing more in battery technology to reduce costs. < / P > < p > in a conference call after the release of last quarter’s financial report, musk once told analysts: “in the future, Tesla’s priority will no longer be profit, but growth. How to further reduce Tesla’s sales threshold and produce cheaper electric vehicles. The biggest problem that bothers me now is that our electric cars are not cheap enough. ” According to musk, what really limits Tesla’s growth is the price of batteries. To this end, Tesla has said it will expand cooperation with Panasonic of Japan and Ningde times, a Chinese battery manufacturer. In the second half of this year or early next year, Tesla is expected to launch new low-cost long-range batteries in China. In a report on Aug. 4, electric, an electric vehicle website, disclosed Tesla’s electric vehicle sales in the first half of this year. According to the data, Tesla’s sales in the first six months of this year reached a new high of nearly 180000 units, firmly occupying the top position in the sales of electric vehicles in the world, leaving other large automobile manufacturers far behind. < / P > < p > but traditional automobile giants are also accelerating their search for transformation. With electric vehicles becoming the trend of future travel, Volkswagen, Ford, general motors and other automobile manufacturers have formulated corresponding production targets of electric vehicles, aiming at the global automobile market in a few years. < / P > < p > the main pressure on these traditional car factories comes from Wall Street. A few days ago, Wall Street also pressed GM to split its electric vehicle business to better compete with Tesla. GM’s current market value is about $43 billion, less than an eighth of Tesla’s. < / P > < p > according to the analysis and prediction of Deutsche Bank, the new company of General Motors electric vehicles may be valued at $15 billion to $20 billion, and the long-term value is expected to reach $100 billion, but it is still far less than Tesla’s market value of nearly $400 billion. Analysts believe that the genes of traditional automobile manufacturers limit their release of advanced technology capabilities. Emmanuel Rosner, an analyst at Deutsche Bank, said: “the spin off can greatly increase the valuation of GM’s electric vehicle business. The less control GM has over electric vehicles, the more beneficial it will be to create value and force the market to recognize its advanced technology.” Adam Jonas, an analyst at Morgan Stanley, believes that GM’s electric vehicle business should be renamed to make it look more like a technology company after the separation. He suggested that the company’s name should be named after GM’s next-generation battery “ultium”. GM is raising the capacity of its internal batteries to a higher level and massively supporting the supply to third parties. < / P > < p > GM expects to invest $20 billion in autonomous driving and electric vehicles between 2020 and 2025, including investment in at least 20 new electric vehicles worldwide by 2023. A large number of these models will be listed in China, the world’s largest electric vehicle market.