After a brief hiatus from the top spot, Apple (NASDAQ: AAPL) has returned to its role as the world’s most valuable company after a late-week close in the green.
But what’s causing all the fuss around Apple?
This article was originally written by MyWallSt. Read more market-beating insights from the MyWallSt team here.
The Apple Car rumors just aren’t going away…
I wish I could say that the accompanying image above is an official, Apple-approved model rendering of the Apple Car, but alas, ‘tis naught but fan art — I mean, just look at that thing? I’m drooling!
However, salivations aside, a Bloomberg report late last week seemed pretty confident that the Apple Car is in the works. Now, I know that we’ve heard all of this before, but where there’s smoke there’s usually fire, and Apple Car rumors have been setting off investors’ smoke alarms for some time now.
But would an Apple Car work?
No company is invincible to failure, but Apple’s recent track record with product launches is pretty phenomenal. Just think of the success of the iPhone, iPad, Apple Watch, AirPods, and App Store — all released within the last 13 years. That’s mind-blowing.
There’s every chance Apple could enjoy that success in the electric automotive industry. And Tesla bulls, fear not, there’s market share to spare. The industry is on the up and up as numerous world governments setting out plans to lower carbon emissions — and some outright setting dates for the abolition of carbon-fueled car sales. Many analysts predict that the global EV market could be worth as much as $2.5 trillion by 2027 — two years after Apple is rumored to have its car on the road.
Of course, there is a lot of speculation here, but if any company could disrupt the EV space, it’s probably Apple, so watch out for more on this.
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