Goldman Sachs analyst Jacqueline Du sees explosive growth in humanoid robot orders in 2026.
And given that Tesla Inc.’s (NASDAQ: TSLA) chief executive Elon Musk believes roughly 80% of his company’s future value will come from “Optimus,” that demand surge should benefit the EV stock.
However, there are two key dynamics Du discussed in a recent interview with CNBC, which could disable TSLA shares from taking advantage of it next year.
At the time of writing, Tesla stock is up more than 90% versus its year-to-date low.
Tesla stock may not benefit from service-focused robot demand
Tesla has positioned its humanoid robot, Optimus, as a tool for industrial productivity rather than consumer-facing novelty.
Elon Musk has repeatedly emphasized factory and logistics applications, envisioning Optimus as a way to reduce repetitive labor and cut manufacturing costs.
This stands in contrast to the demand Goldman Sachs sees emerging in 2026, which is largely service-oriented.
“Service could be a new direction. We’re going to see those kinds of demands for humanoid robots next year,” she told CNBC.
According to her, shopping guides, exhibition hosts, and entertainment robots are expected to drive early adoption.
This means that TSLA stock’s focus on industrial utility could see it miss out on the initial wave of humanoid demand, leaving competitors better aligned with consumer-facing opportunities.
Strong demand from China could sideline Tesla
Another challenge for Tesla is geography. Du noted that “in terms of near term, we’re seeing very strong momentum on the China side.”
China’s ecosystem of robotics startups and industrial tech firms is well-positioned to capture this growth, particularly in service applications where humanoid robots can enhance customer experiences.
For Tesla, tapping into this demand is complicated due to geopolitical tensions, regulatory hurdles, and the preference for local champions in Beijing’s technology sector.
Even if demand for humanoids explodes in 2026, much of the volume may accrue to Chinese firms rather than foreign players.
Optimus could eventually find a role in global markets, but in the near term, the giant is unlikely to benefit from China’s surge in orders, which may delay the next leg up in Tesla shares.
How to play TSLA shares heading into 2026
The humanoid robot market is still in its infancy, and while the coming year may mark a turning point in adoption, it will take years before robots become truly indispensable across industries.
Tesla Inc.’s long-term vision for its Optimus – an affordable, general-purpose humanoid capable of performing a wide range of tasks – could eventually align with broader demand.
However, the mismatch between near-term service-focused applications and the multinational’s industrial ambitions, combined with China’s dominance in early adoption, suggests limited upside for TSLA shares in the immediate future.
Investors should recognize that while humanoid robots may be the next frontier, Tesla’s payoff from this revolution is likely to be delayed.
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