Displaying items by tag: Apple car

(New York)

A few weeks ago we ran a story about Apple planning for its own-branded car. At the time, most analysts thought Apple would wait until self-driving cars became a mainstream reality before doing so—which made it seem like it would be 5 years or so. Well, in what comes as a major announcement, Apple is close to finalizing a deal with Kia to produce a branded Apple car for them in the US. Morgan Stanley analyst Katie Huberty explained why this is so exciting in just four short sentences: “Smartphones are a $500bn annual TAM. Apple has about one-third of this market. The mobility market is $10 trillion. So Apple would only need a 2% share of this market to be the size of their iPhone business”.

FINSUM: Apple is not only the world’s biggest player in smart phones, but it has a fiercely loyal follower base. It is hard to imagine the company would not get to 2% market share in mobility within 3 years at the most. This is the kind of announcement that could propel Apple on a big run for the next few years.

(Silicon Valley)

The Apple Car (capital C!) has been hyped all over the internet over the last year, and investors seem to be frothing over the idea. See the full story here on our partner Magnifi's site.