Is Apple (AAPL) giving up its EV ambitions, or is spreading such news just some "strategy" of the company? : https://www.reuters.com/technology/...taff-ai-project-bloomberg-reports-2024-02-27/
There are far too many EV manufacturers. The supply is > demand. There are far too many battery patents. The novelty period is over. China is ahead in implementing driverless vehicles in the city. Apple should focus on making specialty Apple and not common cars.
Absolutely love how chaotic and bi polar apple investors are...... First they praise apple for getting Into developing the next newest EV. Some said that it would be the #1 in the universe..... Now they announce they are no longer building the ev car of the future and the stock moves up.... Too hilarious. And it's every single time the stock is just literally on the verge of collapsing into the deep depths that it miraculously turns around. Anyway that was a really funny joke from apple playing the hype of the ev market thinking they can ger into any sector of the industry they please.
https://finance.yahoo.com/news/apple-cancellation-car-effort-boosts-031606765.html " Apple's scrapped car project means AI and headset bets are more urgent Mark Gurman Wed, February 28, 2024 at 4:16 AM GMT+1 (Bloomberg) — In abandoning plans for a self-driving car, Apple Inc. is giving up on billions in potential revenue and the dream of selling what one executive called “the ultimate mobile device.” The hope is that other big bets — including generative AI and mixed-reality headsets — can make up the difference. Apple reached this crossroads Tuesday, when it told employees it was winding down the car project and reassigned some of the staff to its AI efforts. The decision followed months of frenzied meetings between top executives and the company’s board over how to proceed. Chief Operating Officer Jeff Williams and project head Kevin Lynch broke the news to the roughly 2,000-member team during a meeting that lasted less than 15 minutes. [...] "
Wrong decision by AAPL. They better should have cooperated with a small EV maker in China (there are hundreds of EV makers in China), and only after some years expand to the US and the rest... That's how I would have done it if I were the CEO of AAPL
Huh? They should buy the biggest EV car maker in China BYD. Small EV makers are bleeding because of old / outdated (or rather no) technology. Soon they will also Bleed AAPL Blood.
The question about an AAPL car was if they could add any value to it. The answer was always certainly not a big one. It was more about not letting TSLA win in the field. But as TSLA sucks by itself, there is no reason to compete.
Its not so much about the scraping of EV...but rather, how very little Apple seemed to have accomplished. They first ventured into EV around 2017. They never even managed to produce a dash system communication-audio-video tie-up with any EV companies. I would have thought that should happen after a year of the EV project. Reminds me of how very little Google managed to accomplish with AI or robotics or small satellite internet
%% Sounds like they have better things to do/TSLA may also have a better winning start in EVs. I read it on investors.com God bless fossil fuels, market major choices. MS analyst noted ''welcome cost discipline'' .