Tesla shares have declined 3% year to date, while Microsoft shares have advanced just 9%. But Wall Street expects the stocks to move in opposite directions over the next year. Among the 58 analysts that follow Microsoft, the median price target is $497.50 per share. That forecast implies 22% upside from its current share price of $409.

"Waymo is now hosting 100k rides per week in major cities, so we expect more from TSLA's demo," Wells Fargo analyst Colin Langan said.