by Christopher Freeburn | February 18, 2014 9:36 am
A report that Tesla Motors (TSLA) CEO Elon Musk met with Adrian Perica, Apple’s (AAPL) head of mergers and acquisition, last year set off speculation of a possible deal between the technology giant and the electric car maker, sending Tesla stock up more than 2% in Tuesday morning trading.
Tesla stock moved higher after the San Francisco Chronicle said a source indicated that Musk had visited Apple’s headquarters to meet with Perica. Musk may also have met with Apple CEO Tim Cook while he was there, according to the source.
The high-level meeting suggests that Apple might have some interest in acquiring the upstart electric car manufacturer. Apple is facing pressure from investors and critics, looking for the iPad-maker to deliver innovative new products.
Musk met with Perica roughly six months before Adnaan Ahmad, an analyst in Germany, called on Apple to purchase Tesla in October 2013. Ahmad argued that such an acquisition would “radically alter Apple’s growth profile.”
Apple did not respond to the Chronicle’s request for a comment, while Tesla declined to comment on the report.
Tesla stock has jumped about 400% over the past year. Tesla stock closed at $198.23 a share on Friday.
Meanwhile, Apple stock rose modestly in early Tuesday trading.
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