We have to be in a stock market bubble right?

After listening to Tesla’s earnings call I’m convinced, we’re in a bubble. Ofcourse this is just Tesla but I think it shows how irrational the market has become. From JPM’s ER Report on the earnings call:

“It's not clear to us why Tesla shares traded as much as +5% higher in the aftermarket Wednesday, although we have some leading theories. Perhaps it was management's statement that it had identified an achievable path to becoming worth more than the world's five most valuable companies taken together (i.e., more than the $14.8 trillion combined market capitalizations of Apple, Microsoft, NVIDIA, Amazon, & Alphabet). Or maybe it was management's belief that just one of its products has by itself the potential to generate "north of $10 trillion in revenue". It may have even related to management guidance for 2026 (no financial targets were provided, but it was said to be "epic") and for 2027 and 2028 ("ridiculously good")”.