Tesla Motors Inc (NASDAQ:TSLA) is one of the most hotly contested companies on Wall Street now, and rightfully so. The company’s stock is so hot that bears just can’t wrap their minds around the fundamentals. But as Seeking Alpha contributor Jae Jun and others like Jim Cramer have noted, those who buy Tesla shares are buying fundamentals. They’re buying based on emotion. It is this basis on which he builds his care for why Tesla is so similar to Apple Inc. (NASDAQ:AAPL) years ago.

Tesla and Apple

Tesla Has “One Crazy Leader”

The first similarity Jun notes is what he calls “one crazy leader.” Of course he’s drawing a comparison between Tesla Motors Inc (NASDAQ:TSLA)’s Elon Musk and Apple Inc. (NASDAQ:AAPL)’s Steve Jobs decades ago. Both are focused on providing perfection, and both have ideas that some have called crazy—even though they managed to make the ideas work.

And don’t forget that Musk has created successful companies time again. Three of his companies surpassed the billion dollar level. PayPal, SpaceX and Tesla Motors Inc (NASDAQ:TSLA) are all billion dollar companies.

Tesla Has A Game-Changing Product

One of the big complaints about Apple Inc. (NASDAQ:AAPL) right now is that we haven’t seen any revolutionary products from it lately. Tesla, on the other hand, has given us the Model S, which many argue is the classiest electric vehicle on the road. It also solves the range problem so many people have complained about.

So remember what happened with the iPhone first came out? People hadn’t seen anything like it, and the smartphone market has evolved based on Apple’s technology. Jun said he thought Apple Inc. (NASDAQ:AAPL) was crazy then, but he laughed at himself later for his “stupidity” of not seeing the product’s potential.

Tesla Has Crazy Fans

And then there is the fan base of both companies. The term “Apple Inc. (NASDAQ:AAPL) fan boy” didn’t just appear out of thin air, and Tesla Motors Inc (NASDAQ:TSLA) has developed a similar base of enthusiasts, or a “rabid fanbase,” as Jun calls it. He pointed to a photo of someone who had even morphed their Model S into a pink bat mobile, which probably illustrates the craziest of the crazy when it comes to Tesla.

Also don’t forget the drag races that drivers are running with the Model S. The fans just can’t get enough of the car.

Tesla Has Potential

He also points to the great potential that exists in Tesla Motors Inc (NASDAQ:TSLA) right now. While optimists peg electric vehicles’ U.S. market share at no more than 20 percent by 2020, the auto market as a whole is quite large. There is a potential for Tesla to do well, especially since we have yet to solve our reliance on gasoline. Will electric vehicles be the answer?

Tesla’s Retail Experience Is Apple-Like

And finally, he points to the retail experience of shopping for a Tesla Motors Inc (NASDAQ:TSLA) or an Apple Inc. (NASDAQ:AAPL) product. Of course Tesla Motors Inc (NASDAQ:TSLA) still has to sell its vehicles online because it’s following a direct to consumer sales model, but its showrooms are classy and quite Apple-like. Apple remade the shopping experience with the Apple Store, and just like that, Tesla is trying to remake the car buying experience with its direct to consumer model

Tesla’s Fundamentals Are Unlike Apple’s

One area where Tesla Motors Inc (NASDAQ:TSLA) is unlike Apple Inc. (NASDAQ:AAPL) is in the fundamentals, and this is where so many analysts prefer Apples to, well, Teslas. There are no fundamentals in Tesla trades. There’s no way to value the stock right now because emotions surrounding it are running so high.

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