In a note to clients — as noted by CNBC — investment bank Morgan Stanley predicts that at the upcoming “Apple Car” will be the “ultimate EV bear case,” and affect stocks in rival automotive companies.
Yesterday Bloomberg reported that Apple is accelerating development on its “Apple Car.” The article says the electric vehicle will be self-driving and could roll out in 2025. According to Bloomberg, potential features of the Apple Car are:
° No steering wheel or pedals accompanied by an interior designed for hands-off travel;
° An emergency takeover mode (though I’m not sure how this wold work with no steering wheel or pedals);
° An infotainment center in the middle of the vehicle;
Following its prediction that Apple will be a “game changer” in augmented reality, Morgan Stanley researchers see the same happening with the “Apple Car,” but at a slower pace. The research firm expects sales to be slow at first, but will accelerate as time goes by.
What’s more, in a note to clients — as noted by AppleInsider — investment bank Wedbush says Apple is likely to announce a strategic electric vehicle partnership in 2022 to lay the groundwork for an “Apple Car” release in 2025.
According to analyst Daniel Ives, Wedbush continues to believe that it’s a matter of when — and not if — Apple releases a self-driving car. Ives adds that the company’s entry into the auto market could add $30 per share of total addressable market to Apple’s growth story.