In anticipation of Tesla's upcoming Robotaxi Day event on October 10, Morgan Stanley analyst Adam Jonas has shared his insight on what investors might expect during the highly anticipated event. While remaining bullish on Tesla's long-term prospects, Jonas advises clients to manage their expectations for the event.

Jonas predicts that the event will feature a demonstration of the latest version of Tesla's Full Self-Driving (FSD) system, possibly version 12.5 or later, along with a presentation showcasing a fully-autonomous "cyber-cab" on a closed or semi-closed course. The reveal of the robotaxi, which Jonas refers to as the "cyber-cab," is expected to be one of the highlights of the event.

However, what could surprise investors is the possibility of Tesla showcasing other products or initiatives. With Elon Musk's decision to delay the robotaxi reveal from August, Jonas speculates that engineers and designers might have had extra time to work on additional surprises. Jonas wonders if Tesla might unveil an electric plane, a boat, or even the latest generation Optimus robot flipping burgers at a Tesla Diner.

Tesla has a history of showcasing unrelated products or initiatives at its special events, aimed at wowing investors, boosting marketing efforts, and aiding in recruitment. Despite the potential for surprises, Jonas emphasizes that the focus of Tesla's event, and his long-term bullish thesis for the company, is centered around the progress in self-driving technology and the development of robotaxis powered by Tesla's investments and advancements in AI and supercomputing.

Earlier this week, Tesla announced its AI milestone roadmap, setting a target of deploying its Full Self-Driving system in the European Union and China by the first quarter of 2025, pending regulatory approval. While Tesla's shares initially saw a boost following the announcement, they experienced a slight dip on Friday.

Regulatory approval poses a challenge for Tesla in its pursuit of self-driving capabilities. Currently, Tesla is not conducting Full Self-Driving tests in a trial capacity in Europe, and its autonomous vehicle permits in the US are limited to testing with a driver. However, Tesla enthusiasts and investors may gain more insight into the company's progress in attaining regulatory approval and additional test sites during the October 10 event.

For Tesla bulls like Jonas, the Robotaxi Day event will be crucial in building their case for the company's stock. Morgan Stanley currently assigns Tesla an Overweight rating and designates it as a "top pick," with a price target of $310.

As the date draws near, investors eagerly await Tesla's Robotaxi Day, hoping for insights into the future of self-driving technology and potential surprises that could drive excitement and further bolster Tesla's position in the market.