Tesla stock (TSLA) has surged 2% on Friday, extending its winning streak for an eighth consecutive session and completely wiping out its year-to-date losses. With a remarkable 37% rally over the past eight sessions and a 43% increase in the last month, the stock is now in positive territory for 2024 after falling as much as 40% year-to-date earlier this year. The recent rally follows positive quarterly delivery results and strong performance in the energy storage segment. Tesla's presence in China has also received a boost with provincial government purchases including locally built Tesla cars. Despite facing challenges such as competition abroad and waning EV demand in the US, Tesla is gearing up to report its quarterly results and unveil its highly anticipated robotaxi on August 8. Analysts remain optimistic about Tesla's future prospects, with some raising price targets and emphasizing the company's potential as an undervalued AI player in the market.