Tesla Outlook Supported by Self-Driving Software, Robotaxi Growth, RBC Says

11:46 AM EDT, 10/22/2026 (MT Newswires) -- Tesla (TSLA) Full Self-Driving software is becoming a significant driver of car sales and robotaxi business appears to be scaling well, while near-term expectations for the Optimus humanoid robot seem tempered, RBC Capital Markets said in a note emailed Thursday. Full Self-Driving was added to more than 75% of North American deliveries in Q3 and Tesla has 1.74 million paid subscribers worldwide, nearing about $1 billion in annual recurring revenue, according to the note. Tesla is targeting annual car sales of 5 million by 2030, with management calling the software its biggest driver of demand, the investment firm said. Tesla's Cybercab robotaxi fleet has grown tenfold since its September launch in Austin, with 24-hour service targeted by year-end and Dallas the next market, the note added. RBC kept its outperform rating for Tesla with a $480 price target, adding that Tesla lowered its 2026 capital spending forecast to about $20 billion, but expects spending to rise in coming years to fund robotaxi and robot production. Price: 382.40, Change: -4.08, Percent Change: -1.05