I expect $Tesla(TSLA.US) 2Q deliveries on Thursday morning to be ~410,000 (+7% YoY) and ahead of WS consensus of 406K after gas prices surged during the quarter. This could be TSLA’s 2nd consecutive YoY deliveries advance of >+5% after declining -9% in 2025 and -1% in 2024. We remain cautious on TSLA longer term as 2026-30 earnings ests continue to decline and as other manufacturers roll out unsupervised autonomy over the next 12 months. $Alphabet - C(GOOG.US) $Baidu(BIDU.US) $WeRide(WRD.US) $Pony AI(PONY.US) and $Amazon(AMZN.US) are now completing 1.0M paid unsupervised autonomous rides per week without safety monitors. We have no position in TSLA due to its extended valuation (2026 P/E 200x vs +35% long-term EPS growth, 6.0x PEG).