Apple Inc.’s (NASDAQ: AAPL) plan to build its own self-driving electric vehicle has been leaked…
It’s called “Project Titan” and the company is targeting 2024 for the car’s release.
Instead of being a self-driving taxi service like Alphabet Inc.’s (NASDAQ: GOOGL) Waymo, Apple’s goal is to sell affordable electric vehicles for the masses.
That means Apple would be in direct competition with Tesla’s (NASDAQ: TSLA) Models 3 and Y.
Personally, I expect Tim Cook and Apple to become a major threat to Tesla and Elon Musk.
Apple has a $135 billion war chest on its balance sheet to build the “iCar,” after all. That’s more money than any other U.S. company.
After selling billions of tech devices with rechargeable batteries for decades now, Apple understands battery technology as well as anyone.
Central to the company’s strategy to enter the EV market is a new battery design that could “radically reduce the cost of batteries and increase the vehicle’s range,” according to CNBC.
If Apple is able to pull off an affordable EV with more range than the latest Tesla Model 3 and Y’s, it would certainly have long-term potential to boost AAPL stock.
Tesla has dropped 40% year-to-date compared to just a 17.5% loss for Apple so far in this volatile market.
But investors need to remember, it took Musk 17 years before he could finally turn Tesla into a profitable business…
For higher returns, you might want to look into these two LiDAR companies that could become the primary suppliers to Apple’s new car venture…
LiDAR is a method for measuring distances by illuminating the target with laser light and measuring the reflection with a sensor. This is for the self-driving component of the Apple car.
While Musk isn't a fan of LiDAR technology himself, Apple might be on to something here…
They did recently employ LiDAR to some of their latest iPad Pros – so they're likely collecting a ton of good information there that could help with the iCar.
Either way, it will be interesting to see who wins the race to produce fully autonomous driving electric vehicles that are affordable for regular folk like you and me.
Investors should pay attention to LiDAR companies Luminar Technologies Inc. (LAZR – trading for $6 currently) and Velodyne Lidar Inc. (VLDR – only $1 per share).
These stocks should pop if they become Apple’s main LiDAR suppliers for the new Apple iCar.
Buy This $5 Stock BEFORE Apple Project Goes Live
After nearly a decade of research and development…
Apple is preparing to unveil a brand-new device unlike anything it's ever attempted before… code name: Project Titan.
It could be 10X bigger than the iPad, the MacBook and the iPhone combined…
And my research shows that one tiny $5 tech company is perfectly positioned to help Apple make it all possible.
The numbers I've crunched indicate that this tiny, little-known stock could soar 40X once Apple's new device goes live.
And that's not hyperbole… because after over 7 months of research…
I'm now more confident now than ever that this could be Apple's biggest project to date.
It stands at the center of an emerging industry Bloomberg forecasts will grow as much as 19,254% in the coming years…
And Morgan Stanley analyst Katy Huberty says Project Titan is… “the clearest path to doubling Apple's revenue and market cap.”
It's no wonder whales like Warren Buffet and Nancy Pelosi's husband have recently put millions into Apple – despite everything going on in the economy today.
But there's a better way to tap into this opportunity… one with much more potential upside.
