Apple CEO Tim Cook will attend Apple’s “Ted Lasso” Season 2 Premiere at the Pacific Design Center on July 15, 2021 in West Hollywood, CA.
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Apple Friday’s share price closed at a record high after reports that the company is accelerating efforts to launch self-driving cars. Apple’s share price rose 1.7%, trading at $ 160.55 per share.
according to Complete report from Bloomberg News, The company is in-house promoting the 2025 deadline for self-driving cars.
Apple’s entry into the electric vehicle space could compete with the company Tesla Not only emerging players like Rivian When Lucid Motors A traditional car maker moving away from fossil fuels. EV stocks have skyrocketed in recent months as more consumers and investors bet that they want to be the next Tesla.
Rivian Published Last week, one of the biggest IPOs of the year, quickly surpassing the automaker’s market capitalization Ford When General Motors.. The shares of Rivian and Lucido, which went public through a special acquisition company in July, volatility All week long.
Apple’s potential entry into autonomous vehicle space has long been a topic of speculation. Morgan Stanley released two notes following Bloomberg’s story, and analyst Katie Huberty said, “This is the first press report containing a number of data points provided to Apple insiders, and Apple’s car. Launches have the potential to accelerate the adoption of new technologies (EV + AV) and expand the market available for Apple products in the same way as past launches. “
The car is a whole new endeavor for Apple, but Huberty writes that its track record in new markets and its vertically integrated capabilities could foresee success., Morgan StanleyApple analyst. She equates to a stock purchase rating, and she wrote that the car represents the “clearest way” for Apple to double its earnings and market capitalization.
Apple’s share price has risen 21% this year, with a market capitalization of over $ 2.6 trillion.
“Although Apple isn’t always the first to hit the market, much of the last two decades show that Apple has made a leap forward with its innovation engine, vertical integration differentiation, and manufacturing / operational excellence. We can provide an example of, “Huberty writes. ..
Adam Jonas of Morgan Stanley, who is in charge of Tesla, called Apple’s car the “ultimate EV bear case” and the entry of tech giants into this space “clearly negative for much of our car coverage.” is. Jonas added that fully self-driving cars will be delayed in adoption in the United States due to the myriad of moral, legal and technical barriers.
“For clarity, we don’t believe consumers own ownership of fully self-driving cars … but they engage in services as a subscription or transportation utility,” he writes.
Apple sets record and plans to build self-driving cars in 2025
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