Tesla Bull Lauds Apple Pulling Plug On EV Project For AI Initiative: 'Smartest Thing They Could Do'
Portfolio Pulse from Benzinga Neuro
Tesla investor Ross Gerber praised Apple Inc.'s decision to halt its electric vehicle (EV) project in favor of focusing on its artificial intelligence initiative, Vision Pro. Gerber, CEO of Gerber Kawasaki Wealth and Investment Management, expressed his views on CNBC, stating that moving resources to AI was the smartest move for Apple. This decision reflects Apple's strategic shift towards AI, amidst the rapidly evolving EV landscape.
February 28, 2024 | 8:13 am
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Apple Inc.'s decision to cease its electric vehicle project and redirect efforts towards its AI initiative, Vision Pro, has been praised by investors and analysts, indicating a strategic shift that could positively influence its stock in the short term.
The decision to halt the EV project in favor of AI development is seen as a strategic move by Apple, aligning with the tech industry's shift towards AI. This redirection of resources and focus is likely to be viewed positively by investors, as it plays to Apple's strengths in innovation and market trends, potentially leading to a positive impact on its stock price in the short term.
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