Apple is pretty good at making gadgets but would it be able to produce its very own automobile? Will we ever see an iCar cruising down the road?
One analyst seems to think so.
Ming-Chi Kuo has made his name predicting the movements of a company that is now worth a trillion dollars. The analyst, who works for financial company KGI Securities, has been called ‘the best Apple analyst on the planet’.
And he reckons Apple will launch its own car between 2023 and 2025.
‘Apple’s leading technology advantages (e.g. AR) would redefine cars and differentiate Apple Car from peers’ products,’ Kuo wrote in a note to investors that was spotted by the team at AppleInsider.
‘Apple’s service will grow significantly by entering the huge car finance market via Apple Car, and […] Apple can do a better integration of hardware, software, and service than current competitors in the consumer electronics sector and potential competitors in the auto sector.’
Take that, Tesla.
Of course, rumours about an Apple Car have been circulating for years but the company has kept deafeningly quiet on the subject. Then again, when you’re worth a trillion dollars you can pretty much do whatever you want.
At one point, it was believed that up to 1,000 employees were working on the car project and were sucking up resources from other departments. It’s unclear if the Apple Car would be an autonomous machine or if you would be able to drive it yourself.
What could have prompted the speculation from Kuo? It could well have been Apple recently poached Tesla’s Doug Field, an engineering executive who spent five years at Elon Musk’s electric car company.
And while it may be over half a decade before the ‘Apple Car’ gets released, given how much Apple charges for its phones it might be an idea to start saving up now.
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