Tesla Motors, the electric car manufacturer headed by billionaire entrepreneur Elon Musk, can become the most valuable company ever created, according to Trip Chowdhry, an analyst at Global Equities Research.

Tesla Motors Inc: Will It Become More Valuable Than Apple Inc.?

At present, Tesla Motors has a market value of approximately $29 billion, which is significantly lower than the market capitalization of Apple at around $739 billion. Apple is currently the most valuable technology company. Other big technology companies such as Google and Microsoft have market capitalizations of approximately $372 billion and $388 billion, respectively.

People could say that it would be difficult if not impossible for Tesla Motors to surpass Apple to become the most valuable company given the huge difference in market capitalizations.

Tesla addresses huge problems very boldly

Although Tesla Motors’ valuation is tiny compared with Apple’s, Chowdhry thinks the electric car manufacturer could surpass Apple.

Chowdhry told Benzinga, “If Tesla executes well, I will not be surprised [if] in this century, Tesla will come to be the most valuable company ever created — even more valuable than Apple.” He noted that Tesla Motors is “tackling huge problems very boldly.”

According to him, not every company can spend $5 billion to build a Gigagafactory. He emphasized that most entrepreneurs are only capable of building an app out of a garage.

The worst is over for Tesla Motors

The analyst believes that the worst is over for Tesla Motors. He said, “I think the trend of the conference call could be upbeat. I think they [can] now reach 1,200 cars a week, which is good.” Chowdhry suggested that the electric car manufacturer will maintain its guidance. He said it would be “very positive.”

Chowdhry noted that analysts have a consensus projection that Motors’ vehicle production will be lower than expected. He estimated that the electric car manufacturer will produce 60,000 to 62,000 vehicles, higher than its guidance of 55,000 units this year.

Tesla Motors is a multi-product company

Chowdhry also perceives Tesla Motors a technology and multi-product company. According to him, the company is composed of three business units. The two units are automobile and batteries/utility for residential and commercial entities. He said Tesla’s third business unit is yet to be announced. He expects the company to operate supply chain management software for other businesses.

“Each one of [these business units] is important because it expands [Tesla’s] market. Each one will have its customer adoption rates. The stationary battery itself is a $200 billion market. If they execute well, the results will be huge,” said Chowdhry.