China still lousy (apparently not, however)
Model X delayed till 4th quarter
Model S getting cannibalized by Model X
Gigafactory falling behind schedule
Earnings data disappoint on every line item
If you’re an investor — you know, long-term — none of this matters. You ride out a crummy few months and get excited again early next year. Ergo, today’s earnings conference call will mean either instant gratification or delayed gratification. Either one works OK.