Apple Car Capabilities Scaled Down, Tesla-Like EV Launch Expected In 2028
Portfolio Pulse from Adam Eckert
Apple Inc (AAPL) has scaled down its ambitions for the Apple Car, now aiming for a 2028 launch with features similar to Tesla Inc's (TSLA) current EV capabilities. The project, known as Titan, has faced multiple delays and reduced expectations. Apple's revenue growth has slowed, prompting the company to explore new categories, including the upcoming Apple Vision Pro headset. The EV industry overall is facing challenges, with some OEMs slowing down electrification efforts. Meanwhile, competitors like Amazon.com Inc (AMZN) and Alphabet Inc's (GOOG) Waymo are advancing their EV and autonomous driving initiatives.
January 23, 2024 | 8:37 pm
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POSITIVE IMPACT
Amazon has invested in Rivian Automotive and is transitioning its fleet to electric, indicating its commitment to the EV space.
Amazon's investment in Rivian and fleet transition efforts highlight its commitment to the EV market, which could be seen positively by investors. The short-term impact on AMZN stock could be slightly positive as it reinforces Amazon's position in the growing EV sector.
CONFIDENCE 70
IMPORTANCE 40
RELEVANCE 40
POSITIVE IMPACT
Alphabet's Waymo division is advancing its efforts on autonomous capabilities, competing in the EV and autonomous driving space.
Alphabet's continued progress with Waymo in autonomous driving technologies may be viewed favorably by investors, suggesting a positive short-term impact on GOOG stock. The company's advancements in this area could position it well against competitors in the long run.
CONFIDENCE 70
IMPORTANCE 40
RELEVANCE 40
POSITIVE IMPACT
Amazon's investment in Rivian Automotive shows support for the EV company as it transitions its fleet to electric.
Amazon's investment and commitment to transitioning its fleet to Rivian's electric vehicles could be seen as a strong endorsement, potentially having a positive short-term impact on RIVN stock. This support may reassure investors about Rivian's future prospects.
CONFIDENCE 60
IMPORTANCE 30
RELEVANCE 30
NEUTRAL IMPACT
Apple's EV ambitions have been scaled down, with a less ambitious design and a delayed launch to 2028. The company is also launching the Apple Vision Pro headset amid slowing revenue growth.
The news of a scaled-down Apple Car with a delayed launch may temper investor expectations for near-term revenue from this project. However, the introduction of the Apple Vision Pro headset could offset some concerns by opening a new revenue stream. The impact is neutral as the market may have already anticipated delays in the EV project.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 90
NEUTRAL IMPACT
Apple's EV is now expected to have features similar to Tesla's current capabilities, with a launch set for 2028.
Apple's decision to aim for Tesla-like features in its EV could be seen as validation for Tesla's current technology. However, the impact on Tesla's stock is likely neutral in the short term, as the actual market entry of Apple's EV is still several years away.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 60