What happened

Shares of Tesla (NASDAQ:TSLA) spiked higher on Friday, rising as much as 5.7%. By the time the market closed, however, the stock was up 4.8%. The stock's gain impressively came as the overall market declined sharply. The Nasdaq Composite, for instance, fell 0.85%.

Shares of the growth stock are likely up due to a couple of items circulating on Twitter that indicate the company may be having a better 2021 than some analysts are planning for.

Interior of the redesigned Tesla Model S.

Image source: Tesla.

So what

As a Barron's article pointed out earlier today, New Street analyst Pierre Ferragu noted on Twitter that STMicroelectronics -- a Tesla supplier -- expects sales of its silicon carbide to reach $550 million this year. This implies Tesla may be ordering enough silicon carbide to support production of 1 million vehicles this year, according to Ferragu's estimates.

In addition, some have pointed out on Twitter that Tesla's most recent 10-Q filing notes, "During the first quarter of 2021, the operational milestone of annualized revenue of $55 billion became probable of being achieved..." For some context on Tesla's current estimated sales trajectory, the average analyst estimate calls for 2020 revenue of about $50 billion.

Now what

Tesla has remained somewhat vague about its expectations for 2021 vehicle deliveries, only saying that it expects total deliveries this year to grow by a rate greater than 50% year over year. But after blowout first-quarter deliveries and given the company's rapidly increasing production and its record quarterly vehicle orders in Q1, it's starting to look like Tesla can grow its deliveries at a significantly greater rate than 50% year over year in 2021.

Editor's note: A previous version of this article stated that the operational milestone of annualized revenue of $55 billion was probable for 2021. But Tesla did not state a timeframe in its 10-Q and simply stated that its operational milestone of annualized revenue of $55 billion was now probable. The author regrets this error.

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. We’re motley! Questioning an investing thesis -- even one of our own -- helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.