Apple is currently valued at 2.42 trillion USD and Tesla is valued at 862.74 billion USD.
Apple's intrinsic value is 1 trillion USD, while Tesla's intrinsic values is 120 billion USD, according to my estimates.
Apple faces the Black Swan of China invading Taiwan where most computer processing chips for Macs, iPhones and iPads are manufactured. Tesla is simply not profitable without subsidies and even now it seems to expense 5 000 USD current downpayment for the whole of minimum 35 000 USD price of Tesla vehicles.
I would call this creative accounting. Yes, so far this kind of accounting has worked for Tesla, because the economy and technology investment flows were in a boom phase. But if there is a sudden, deep economic shock followed by a deep and protracted recession, Tesla could find out that many customers are giving up on the 5 000 USD downpayment and reneging on the implicit promise to pay the rest and giving up the dream of owning Tesla.
And Tesla is burning cash as it is and if customers turn away as described above, Tesla could face solvency troubles as in a couple of times in the past according to the words of Elon Musk, himself.
Apple Inc should have diversified its chip production sites and countries long time ago. Fighting Chinese "communism" is all very nice, but if China invades Taiwan, Apple Inc's market capitalisation can fall more than 70 % in the space of 1 month and drag the Nasdaq Composite down with it, followed by the Standard and Poor's 500 and Dow Jones Industrial Average, which of course will crash all global stock markets.
Apple has on its tail a huge production chain, which is deeply intertwined with the global economy. And if Apple suffers a shock, the global economy will get a headache, it seems.