Piper Jaffray analyst Alex Potter, who helped Tesla’s stock reach new highs last week by giving it a new $368 price target, downgraded other truck makers today partly due to the Tesla Semi announcement:

“Commercial vehicle makers – and their suppliers – would be wise to stymie their laughter and take these tweets seriously. We are downgrading truck stocks CMI and PCAR (both from Overweight to Neutral) partially because we think their valuations already reflect cyclical optimism, but also because we think TSLA’s impending arrival could pressure valuations.”

While Musk didn’t reveal anything new about the truck itself, his announcement of an unveiling in September hints at an updated timeline to production. As we reported in our article about the timelines of Tesla’s current 8 vehicle programs, it’s not impossible for the vehicle to enter low-volume production as soon as next year – roughly a year after its unveiling.

Potter is not factoring Tesla Semi in his model just yet, but he sees “a revenue opportunity in excess of $100B/year”. He wrote in a note to clients: