An Analyst well versed in Apple Inc. (NASDAQ:AAPL) and its products has suggested that the tech giant plans to bring an electric or an autonomous car to the automobile market, and he has projected that the car might be available in five years’ time. He estimates the price of the car to be around the $75,000 mark and expects to rival Tesla’s Model S.
The analyst, Gene Munster, who works for Piper Jafray investment firm, gave an interview to Apple Car Fans and spoke about the likelihood of Apple developing a car which he said is code named “Project Titan”. Munster said the following in the interview, “There will be a car that you can see and order in 2019-2020. We don’t think it will probably be delivered until after that…maybe 2023. For Apple, an advantage of showing it early will be to hold up the market in anticipation.”
This is however pure speculation and no one is sure at the moment. The information we have gotten from insider trading and rumors has not always been the best, but it has sufficed. This is, however, Munster’s job to back up what he has heard and reason and criticize it before the investors. So for him, the margin of error should be small therefore it make this news interesting.
He is optimistic that Apple will put a car on the market and mark that likelihood at 50 to 60 percent. He also suggests that if there is a car that Apple has been developing at the very moment and it’s called “Project Titan” then chances that it would be abandoned would be small. He, however, admits that he was wrong about Apple TV despite the confidence of internal he had received at that time, so this might not be too much of a big deal.
Munster said that there has been plenty of chatter of how the Apple boss, Tim Cook has been in and out of meetings with existing automakers, so probably Apple is trying to outsource the car making process job, and there is a deal in the offing we don’t know about. It has been projected that Apple would stick to its current product lines, but it has not been so. They do however plan on outsourcing the majority of the manufacturing.
“Apple thinks about how they are going to be in business the next 200 years,” Munster said. “We believe they are going to call it Apple Car.” All of this, however, has to be taken with a grain of salt, but Munster says if the car is on its way, many rumours and “leaks” will fly by as is usual with Apple products.