Tim Cook at an Apple event
A closely watched Apple analyst warns that investors should be wary about a report the iPhone maker is planning for Self-driving car production in 2024.
The past weeks A Reuters report sent shares of companies making parts for self-driving cars, Like lidar sensors, altitude. But the hype was just speculation that some of these companies might supply parts for the Apple car, TFI analyst Ming-Chi Kuo warned in a note this weekend.
Kuo has earned a reputation for meticulously disclosing Apple product launch plans, and is closely following Apple’s supply chain.
“We believe that the so-called current shares of the Apple car concept are just speculation by the market and do not include actual Apple car suppliers,” said Kuo. “We also think that as the technical specifications of the EV / self-driving vehicle are still developing, it is too early to talk about the final specifications of the Apple car.”
Kuo said the market is “very bullish” for Apple’s car and he wouldn’t be surprised if the Apple car wasn’t launched until 2028 or later. The earliest time he thinks it will hit the market is in 2025. Kuo also suggested that Apple may be too late in the AI field to launch a competitive, self-driving car.
“If Apple wants to succeed in the future, the key success factor is big data / artificial intelligence, not hardware,” he said. “One of our biggest concerns about Apple Research 27 December 2020 2 Apple car is that at the launch of the Apple car, the current brands of self-driving cars will have collected at least five years of big data and will lead to deep learning / artificial intelligence. How did Apple beat And it is very recent, on this late gap?
Apple has kept its grand vision of cars relatively quiet. But the company has been testing autonomous driving technology for a few years now, and CEO Tim Cook has said he sees the technology as a way to boost Apple’s AI systems.
Other analysts were as skeptical as Ku.
“Apple conducts research and development in many areas, and although we are not surprised to hear the media again discussing the Titan car project, we are very skeptical that Apple will actually produce a car, as the profitability of the auto sector is much lower.” According to a Citi Analyst Jim Suva wrote in a note last week.
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