Corrects Musk quote

SAN FRANCISCO (MarketWatch) - Tesla TSLA, +4.42% CEO Elon Musk said the company's market cap in 10 years could be "basically the same as Apple's is today." Musk made the comments on a conference call with analysts following Tesla’s unexpected quarterly loss. Musk said the estimate was based on "back of the envelope" calculations including an assumption of a price-to-earnings ratio of 20. Apple AAPL, -3.17% recently became the first company to top $700 billion in market capitalization. Tesla's current market capitalization is roughly $27 billion.