Image Source: PexelsMarkets have been facing a 5% dilemma. The benchmark Treasury yield recently closed just above 4.9%, a fresh 16-year high. The market could likely turn broadly positive, and lower rates may be just around the corner. In the meantime, I still like Tesla (TSLA), which recently reported a good third quarter, outlines Carl Delfeld, editor of Cabot Explorer.While profits were down in the quarter compared to a year earlier, it was still a solid showing given the multiple price cuts across the company’s lineup (see graphic, courtesy of Kelley Blue Book). Tesla also revealed that Cybertruck deliveries are on track to begin next month.For the quarter, total revenue was up 13% at $23.4 billion with reported adjusted earnings per share (EPS) of $0.66, nearly 30% lower than a year ago.Tesla believes it will meet its 2023 production goal of 1.8 million vehicles. Through three quarters of the year, Tesla has delivered around 1.3 million vehicles globally, so the company will need a very strong quarter to hit its annual delivery goal.The company also said it expects Model Y production to gradually ramp up higher at Giga Austin and Giga Berlin.My recommended action would be to consider buying shares of TSLA. About the AuthorCarl Delfeld is chief analyst of Cabot Explorer published by Cabot Wealth Network. He is also the managing editor of Far East Wealth and chairman of the William H. Seward Center for Economic Diplomacy. Over the past three decades, he has held senior positions in business, finance and government, was a Forbes Asia columnist and author of Red, White & Bold: The New American Century.More By This Author:What Market Message Are Small-Cap Stocks Sending Out?
IPOs: The Lesson Investors Should Take Away From Birkenstock’s Flop
Fabrinet: A Tech Manufacturing Firm Benefiting From Solid Sales, EPS Growth