"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.

Investors were disappointed by the absence of updates on Tesla's affordable Model 2 at Elon Musk's "We, Robot" event.

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.