Apple 'Missed Their Big Opportunity To Invest In Tesla,' Says Ross Gerber: 'About Time They Throw In The Towel On This Mess'
Portfolio Pulse from Benzinga Neuro
Ross Gerber criticized Apple Inc's decision to halt its electric vehicle (EV) development project, Titan, and shift focus to Artificial Intelligence (AI). He mentioned that Apple missed an opportunity to invest in Tesla. Apple has informed nearly 2,000 employees about the project's cancellation, with plans to reassign many to its AI division. The decision comes after repeated delays and changes in the project's leadership and strategy.
February 28, 2024 | 3:09 am
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POSITIVE IMPACT
Ross Gerber criticized Apple for not investing in Tesla, highlighting a missed opportunity as Apple exits the EV market.
Apple's decision to halt its EV project could indirectly benefit Tesla by reducing competition in the EV market. Gerber's criticism highlights a potential missed strategic partnership or investment opportunity for Apple in Tesla. This news could be perceived positively for Tesla, as it underscores Tesla's established position and leadership in the EV market.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70
NEUTRAL IMPACT
Apple Inc has decided to halt its electric vehicle project, Titan, and focus on Artificial Intelligence, affecting nearly 2,000 employees.
Apple's decision to halt its EV project and focus on AI could be seen as a strategic pivot, reflecting the company's adaptability and potential growth in the AI sector. However, the cancellation of a high-profile project might raise concerns about wasted resources and strategic missteps. The impact on the stock price could be neutral in the short term as investors assess the potential benefits of focusing on AI against the backdrop of the EV project's cancellation.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90