Apple (NASDAQ:AAPL) stock is on the move today as investors react to rumors about the company’s car plans.
Let’s check out the latest Apple car rumors below!
- The begin with, Apple is reportedly developing an electric vehicle (EV).
- Rumors claim that it’s also working on a self-driving system for this car.
- Insiders told Bloomberg that the company was previously deciding on two different paths.
- The first would have been an EV with limited autonomous functions.
- That would have matched current self-driving offerings on the market.
- The second path is for the development of a fully autonomous vehicle.
- According to people close to the matter, Apple is going down this second route.
- Leading this effort is Kevin Lynch, the company’s Apple Watch software executive.
- The recent rumors claim that Apple wants the car ready for launch in four years.
- That’s a much shorter timeframe than the previous rumor of five to seven years.
- The rumors claim Apple recently reached a major milestone in its self-driving tech, which could be the reason for the faster launch estimate.
- It’s also worth noting that rumors state AAPL won’t even include pedals or a steering wheel in the EV.
- What it would likely have is an information center with relevant data for travelers.
- That could be similar in appearance to an iPad and located near the center of the vehicle.
- It’s also likely that Apple will have to seek help from automotive companies when making its car.
- However, it’s still unclear who the company will team up with.
AAPL stock is up 2.9% in pre-market trading on Friday.
Investors looking for more recent stock market news today are in luck!
We’ve got traders covered with all the latest happenings from the market. That includes this morning’s pre-market stock movers, as well as the latest concerning Pershing Square Tontine Holdings (NYSE:PSTH), and Virtuoso (NASDAQ:VOSO). You can find all of that at the following links!
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.