Is Tesla Stock Halal to invest in? Facts you should know :: 20th November 2023 - Islamicly (2024)

FAQs

Is Tesla halal to invest in? ›

Tesla is a halal stock as its interest-bearing debt does not exceed 33%. On the other hand, the illiquid to total assets ratio is greater than 20%, which complies with the shariah screening principles.

3M Company (NYSE:MMM), one of the best halal stocks on our list, currently pays a quarterly dividend of $1.50 per share. The company holds a 65-year streak of consistent dividend growth. As of November 25, the stock has a dividend yield of 6.25%.

Some of the best debt-free Halal stocks to consider investing in currently include Intuitive Surgical, Microsoft, and Abbott Laboratories, among others. Muslim millennials, with an estimated combined spending power of $2.45 trillion, are driving the demand for halal products and services.

Tesla's nightmarish start to the year saw its January earnings reveal significant misses for both sales and profits; a 9% year-over-year decline in first-quarter vehicle deliveries, far short of forecasts of 7% growth; and comes ahead of the company's first batch of 2024 financial results Tuesday, which analysts expect ...

Tesla's shares trade on the NASDAQ exchange, under the ticker symbol TSLA. To purchase shares, you will need to do so through a broker. If you do not have a brokerage account, you will need to open one. At this time, Tesla does not have a direct stock purchase program.

Investing is permitted under Islam, but certain aspects of investment practice – such as charging or paying interest – are not. This has traditionally meant a lack of opportunities for Muslim savers and investors in the past.

It is crucial to remember that Amazon provides a wide range of items that can't be considered to be Halal such as spirits and other pork-related products. So, investors should be aware of their own moral and religious values before making a decision to purchase Amazon stocks.

There's no definitive answer to the question of the Apple stocks are deemed to be Halal. Although Apple isn't associated with any explicitly forbiddenactivities however there are a few features of the company's business that may be considered offensive to some Muslims.

In the current month, MMM has received 10 Buy Ratings, 8 Hold Ratings, and 2 Sell Ratings. MMM average Analyst price target in the past 3 months is $111.00.

How do you know if a stock is halal? ›

Example of halal trading: Spot transactions with an immediate cash settlement and those with a clear and legitimate purpose, such as exchanging goods and services, are generally permissible.

The electric vehicle (EV) maker, Tesla, has a number of key risks that it will face in the next 5-10 years. Notable risks include Tesla cars being too expensive with tax breaks and that the construction of its Gigafactory (battery factory) taking longer than expected.

The highest analyst price target is $310.00 ,the lowest forecast is $22.86. The average price target represents -4.27% Decrease from the current price of $184.86. Tesla's analyst rating consensus is a Hold. This is based on the ratings of 33 Wall Streets Analysts.

From its chief executive Elon Musk being one of the most high-profile and successful people in the world, to being involved in two cutting edge industries – electric vehicles and AI – there are strong reasons Tesla is front of mind for investors. Shares in the company have been on a wild ride in recent years.

Yes, Apple shares can be considered Halal.In conformity to Sharia law, ownership shares is considered Halal in the event that the company does not engage in any activities such as gambling, lending or producing alcohol pork, tobacco p*rnography, alcohol, or tobacco.

Conclusion. We at IFG take the view that Netflix stock is not sharia-compliant as it likely has more than 5% of its revenue from haram sources. A summary of our analysis. The business – use your judgment but we think best avoided.

Source: All the above information is based on the website of the company and Annual financial report for June 2020. Conclusion: Given the above information, we believe MICROSOFT CORPORATION is a Shariah Compliant company as per the Shariah screening Criteria.