'Yeah:' Elon Musk Agrees With Tesla Bull's Theory About Apple Canceling Electric Car Project Due To Lack Of 'Monumental Dataset' (UPDATED)
Portfolio Pulse from Anan Ashraf
Morgan Stanley analyst Adam Jonas suggests Apple Inc's halt on its electric car project may be due to lacking a significant dataset for autonomous driving, unlike Tesla's extensive data from its fleet. Apple reportedly had only 67 vehicles covering 450,000 miles for testing, in stark contrast to Tesla's 5 million vehicles and 50 billion miles annually. The closure of Apple's car project, after nearly a decade of development and significant R&D investment, is attributed to strategic shifts and concerns over profit margins, with some employees transitioning to the generative AI division.
February 29, 2024 | 6:44 am
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POSITIVE IMPACT
Tesla's extensive dataset for autonomous driving, highlighted by the comparison with Apple's halted project, underscores its competitive advantage in the autonomous vehicle space, potentially boosting investor confidence.
The comparison between Tesla's and Apple's autonomous driving data projects Tesla in a favorable light, emphasizing its lead in the autonomous vehicle technology. This perception could positively influence Tesla's stock in the short term by reinforcing its competitive advantage.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 70
NEGATIVE IMPACT
Apple Inc's decision to halt its electric car project, after significant investment and development, may raise concerns about strategic direction and innovation capabilities, potentially impacting investor sentiment.
Halting a high-profile project like the electric car, especially after significant investment, could lead to negative perceptions about Apple's innovation capabilities and strategic direction, potentially affecting stock performance in the short term.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90