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Apple Reportedly Eyes Self-Driving EV Roll Out by 2025; Shares Jump to Record

Stock MarketsNov 18, 2021 03:14PM ET
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© Reuters

By Yasin Ebrahim

Investing.com - Apple (NASDAQ:AAPL) surged to record highs Thursday, as the tech giant is reportedly accelerating plans to develop its self-driving electric vehicle after reaching a key milestone. 

Apple was up more than 2.8% surpassing its previous all-time high of $157.87.

The company recently reached a key milestone in developing the car’s underlying self-driving system, Bloomberg reported, citing people familiar with the situation. The chip would be used in the first generation of the car.

Apple is internally targeting a launch of its self-driving car in four years, faster than the five- to seven-year timeline that some engineers had been planning for earlier this year, according to the report. 

Some on Wall Street are forecasting that entry into the EV market could add at least $30 per share to the Apple’s share price.

“We continue to believe its a matter of when, not if, Apple enters the EV race and this will add another $30+ per share of TAM [total addressable market] to the Apple growth story over the next few years given the golden age of EV transformation on the horizon,” Wedbush said in a note.

Wedbush rates Apple's chances of the unveiling its own car at own standalone car by 2025 at 60% to 65%, and suggests that a strategic partnership with one of the major automakers could present the way forward for Apple's foray into the EV space as building factories are capital as well as margin intensive.

"The company has been working in Cupertino for years around this autonomous vision and we believe a potential larger strategic partnership with an established auto player such as Hyundai, Tesla (NASDAQ:TSLA), GM, Ford, or VW would be a golden partnership for the next decade tapping into this EV opportunity," the firm wrote.

Apple Reportedly Eyes Self-Driving EV Roll Out by 2025; Shares Jump to Record
 

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Comments (12)
Yong Liu
Yong Liu Nov 18, 2021 4:04PM ET
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buy on the news
James Pattison
James Pattison Nov 18, 2021 3:53PM ET
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Thisnarticle has no source from apple? This is journalistic manpractice
Peter Rozen
Peter Rozen Nov 18, 2021 3:51PM ET
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SIRI will drive the car for you.
sharad sharma
sharad sharma Nov 18, 2021 3:05PM ET
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this market has no logic ...everything is specilation ...18 th nov - equity market ballon is going to pop before dec
Lars Hellman
LarsH Nov 18, 2021 1:45PM ET
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Next the IKEA-car, the self assembled car.
Lars Hellman
LarsH Nov 18, 2021 1:41PM ET
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Polestar is an Android car already out and you can drive it yourself.
Rajesh Patel
Rajesh Patel Nov 18, 2021 1:04PM ET
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Typical euphoric market reacting to all these kinds of news, right now apple could sell dust and cow dung and it will push the stock higher
Empire Destroyer
Empire Destroyer Nov 18, 2021 1:04PM ET
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🤣🤣🤣🤣 they could be trafficking women and children and everybody be like Apple still cool
Elijah Sa
Elijah Sa Nov 18, 2021 1:00PM ET
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this seems good for apple’s promise regarding their carbon foot print.
Patrixk Brancato
Patrixk Brancato Nov 18, 2021 12:54PM ET
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But how many iOS updates a day will it need?
Empire Destroyer
Empire Destroyer Nov 18, 2021 12:54PM ET
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Once a year and you'll get features that Tesla had 5 years ago 🤣
Jokers R Us
Jokers R Us Nov 18, 2021 12:54PM ET
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yes
Chris Johnson
Chris Johnson Nov 18, 2021 12:52PM ET
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More fluff... They don't even have a car now, so what's the likelihood they will have a self driving car in four years? You just mention EV and you know your stock will soar...
Suraj Rajwani
Suraj Rajwani Nov 18, 2021 12:52PM ET
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I dont think its fluff. They know they need to be a player in the EV space. They might not have anything ready for now but I doubt its “fluff”. Just IMHO
Chris Johnson
Chris Johnson Nov 18, 2021 12:52PM ET
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Suraj Rajwani Well - IMO it's fluff. How should they know how to be an EV player? Did they read a book about it... think about how long time Tesla has been working on the self driving cars, and they are not there yet. Apple need to learn how to build cars first.
Empire Destroyer
Empire Destroyer Nov 18, 2021 12:52PM ET
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Chris Johnson they'll outsource building and just slap a Apple logo on it
Chris Johnson
Chris Johnson Nov 18, 2021 12:52PM ET
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Empire Destroyer Yes I saw that. Same way as Fisker. But that business model has never been successful in car production. Maybe Apple will be the first to succeed with it...
Costinho Mokoena
Costinho Mokoena Nov 18, 2021 12:51PM ET
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Apple was pioneered by steve jobs , one of the greatest none black minds of all time… on Cars I dont know if they can beat Tesla
jonathon blackmon
jonathon blackmon Nov 18, 2021 12:51PM ET
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there not trying to beat Tesla, a human has to be in the driver seat of a Tesla they are going to do better
Cynical Wilson
Cynical Wilson Nov 18, 2021 12:51PM ET
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how does the color of his skin play into any of this?? besides that, jobs really wasn't "that" much of a genius anyways... but, they seem to be making phones that people like.. not sure how that translates to self driving cars , lol
Billy Bilnaad
Billy Bilnaad Nov 18, 2021 12:50PM ET
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Mighty
 
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