Gene Munster Suggests Apple Acquire Rivian Following Surprising Cancellation Of Apple Car Project
Portfolio Pulse from Rounak Jain
Gene Munster of Deepwater Asset Management suggests Apple Inc. should acquire Rivian Automotive to compensate for the cancellation of the Apple Car project. Munster believes this acquisition could help Apple enter a new market and stimulate growth, especially since Apple hasn't seen top-line growth in the last six quarters. The suggestion comes after Apple's surprising decision to cancel its electric car project, which Munster thought could add significantly to Apple's revenue. Rivian's stock fell by 35% over the past week, making the acquisition suggestion timely for both companies.
February 28, 2024 | 2:09 pm
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Apple Inc. is suggested to acquire Rivian Automotive to enter the auto industry and stimulate growth following the cancellation of the Apple Car project.
Acquiring Rivian could provide Apple with a significant opportunity to enter the auto industry, a move that could potentially stimulate its growth, especially considering the recent lack of top-line growth. The suggestion comes from a reputable source, Gene Munster, and aligns with Apple's need for expansion into new markets.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Rivian Automotive is suggested as an acquisition target by Apple Inc. following the cancellation of the Apple Car project, potentially providing financial stability to Rivian.
The suggestion for Apple to acquire Rivian comes at a time when Rivian's stock has significantly dropped, indicating potential financial instability. An acquisition by a giant like Apple could provide Rivian with the necessary financial stability and resources to continue its operations and growth in the competitive auto industry.
CONFIDENCE 75
IMPORTANCE 85
RELEVANCE 90