Apple Inc. is ready to help promote massive change in the auto industry and the company is not shy about communicating its intentions. Apple CEO Tim Cook speaking to The Wall Street Journal’s WSJDLive conference at The Montage resort in Laguna Beach, Calif., said the auto industry was on the brink of “massive change” that would change everything the market expects from cars. Tim Cook’s confident words about the role the company would play in the automotive space is already causing increased bullish feelings for the company. Technical analysts at Jefferies & Co suggest that an Apple car could cost half the price of a mid-range Tesla Model S.
Tim Cook’s words offer a rare glimpse into the super-secret haze surrounding Apple’s “Project Titan”. Apple hasn’t officially confirmed any of the rumors, but the firm has dropped enough clues that confirm its interest in the auto space. The firm was poaching engineers other tech companies. He is already in talks with BMW on a possible deal. Tim Cook said, “We’ll see what we do in the future…” I think the industry is at an inflection point for massive change. “
Apple makes a great car
There have been rumors and hints that Apple is making a car in its “Project Titan”. The problem is, no one knows in what capacity Apple would enter the automotive space. Some people think Apple will build an operating system to power car infotainment systems, others think the company could build an EV, and others think the company would be on the cutting edge. autonomous driving technology.
Tim Cook hinted his company would be competing with Tesla in the electric vehicle arena when he said he was seeing “a lot of the major technologies in the car switch. Electrification, etc. – they are moving away from the current orientation centered on combustion engines. He hinted that “Project Titan could compete with Google’s self-driving cars when he said” autonomous driving is becoming much more important … “Software is becoming an increasingly important part of the car of the future.”
Analysts are positive about Apple
In other news, analysts postulate that the iCar could be cheaper than Tesla’s Model S. Tech analysts at Jefferies & Co believe Apple’s cars will be retail for approximately $ 55,000 and that the firm could reach a target of 200,000 annual sales by 2020 if it unveils its car in 2019. If analysts are right, Apple would have managed to deliver high-end autonomous electric vehicles at about half the cost of a Model S with its autopilot functionality.
Analysts are already making themselves heard more in favor of the bullish thesis on Apple. On Monday, Piper Jaffray analyst Gene Munster noted that he can predict favorable trends for Apple and that he believes Apple investors will start to see cumulative gains by 2016. He expects Apple provide a forecast of $ 77 billion for the December quarter ahead of Wall Street Forecasts. Going forward, he has a price target of $ 172 with an overweight to Apple stocks over the next year.