Tim Cook at Apple Event
An Apple analyst warns that investors should be cautious about a report that the iPhone maker plans to make a self-driving car in 2024.
Reuters reports last week sent shares of companies that manufacture parts for autonomous cars, such as Lidar sensors, rising. But the hype was purely on speculation that some of those companies might supply parts for the Apple car, warned TFI analyst Ming-Chi Ku later this week.
Kuo has built a reputation for correctly disclosing Apple’s product launch plans, and he closely follows Apple’s supply chain.
Kuo said, “We believe that currently the so-called Apple Car concept stocks are only speculation by the market and do not include actual Apple car suppliers.” “We also think that because EV / self-driving car tech specs are still evolving, it would be too early to talk about the final specs of the Apple car.”
Kuo said the market on the Apple car is “much faster” and they would not be surprised if the Apple car does not launch until 2028 or later. At first he thinks it might hit by 2025. Kuo also suggested that Apple may be far behind in artificial intelligence to launch competitive self-driving cars.
“If the Apple car wants to succeed in the future, the key success factor is big data / AI, not hardware.” “One of our biggest concerns about Apple Research 27 December 2020 2 Apple Car is that when Apple Car is launched, self-driving car brands currently have at least five years of big data to accumulate and deep learning. / Will be conducive to AI. How does Apple, a latecomer, overcome this lag gap? “
Apple has kept its grand vision for Autos relatively quiet. But the company has been testing self-driving technology for the past few years, and CEO Tim Cook has said that he can see the technology as Apple’s AI system.
Other analysts have been suspected as Kuo.
“We conduct R&D in many areas,” said C auto analyst Jim, and while we are not surprised to see the media once again discuss Project Titan, we highly doubt that Apple actually I will produce a car, because the profitability of the auto sector is very low, Suva wrote in a note last week.