This story was originally published here.
Back in 2014, Apple (NASDAQ:AAPL) CEO Tim Cook approved an ambitious project to make an Apple-branded, self-driving car that would take on Tesla (NASDAQ:TSLA). The project, codenamed “Titan,” has been moving in fits and starts since 2014, with it ultimately producing nothing tangible for consumers to see and having zero to minimal impact on Apple’s stock price.
Until 2020.
Apple stock has been rising in recent days on reports that Apple is moving forward with project Titan, and targeting to produce a self-driving electric vehicle by 2024.
That’s big news.
The rumored Apple car has enormous potential. Apple has the technology know-how, the resources, the talent, and the brand equity to create an electric, self-driving car that is as good as it gets in the market.
Will it happen? Still to be determined.
But, even if the Apple car does never come to life, the fact that the company continues to innovatively push forward and develop new technologies is a big win for AAPL stock.
Here’s why… Story continues here.
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Senior Investment Strategist, InvestorPlace
