Published February 11, 2015 8:00pm EST | Updated May 21, 2015 1:29pm EDT

Tesla Market Cap In 10 Years 'could Be On The Order Of Where Apple Is,' CEO Elon Musk Says

Tesla CEO Elon Musk said the company's market cap in 10 years "could be on the order of where Apple is today." Musk made the comments on a conference call with analysts following Tesla’s unexpected quarterly loss. Musk said the estimate was based on "back of the envelope" calculations including an assumption of a price-to-earnings ratio of 20. Apple recently became the first company to top $700 billion in market capitalization.