'Clock Is Ticking' For Apple As It Faces Obliteration In Auto Market, Says Gurman: Here's How Cupertino Can Turn CarPlay Into A Moneymaker
Portfolio Pulse from Shanthi Rexaline
'Clock Is Ticking' For Apple As It Faces Obliteration In Auto Market, Says Gurman: Here's How Cupertino Can Turn CarPlay Into A Moneymaker. With the self-driving car project shelved, Apple focuses on CarPlay, aiming to transform it into a significant revenue stream. The new CarPlay, known as Project IronHeart, seeks to integrate more deeply into vehicles, competing with Google's Android Automotive. Apple plans to launch the revamped CarPlay this year, with limited support from high-end car manufacturers like Porsche and Aston Martin. Gurman suggests Apple could profit from CarPlay by charging automakers for support, selling an upgraded version, or offering customizable templates to save on design costs.

March 17, 2024 | 7:20 pm
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Apple focuses on CarPlay to penetrate the auto market, facing competition from Android Automotive. Limited rollout with luxury brands and exploring monetization strategies.
Apple's focus on CarPlay as a revenue source in the auto market is a strategic pivot from its shelved self-driving car project. The limited support from luxury car brands like Porsche and Aston Martin indicates a cautious entry into the market. The company's exploration of monetization strategies for CarPlay, such as charging automakers for support or selling an upgraded version, suggests potential new revenue streams. However, the competition from Android Automotive and the need for broader adoption among automakers present challenges. The impact on AAPL's stock price in the short term is uncertain, as the success of these strategies and the market's response are yet to be seen.
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