Apple Stock News: Apple Focuses on Autonomous Car Technology

Apple Stock News

For the latest Apple Stock News, AAPL closed at $145.32 on Monday, June 12th, 2017. It had a loss of 2.46% from its previous close of $148.98 per share.

Apple Stock News

In an interview on Bloomberg Television, Apple CEO Tim Cook unveiled the company’s plans to focus on developing autonomous systems for driverless cars. Previously, Apple had been secretive about its specific direction in its autonomous vehicle plans.

During this interview, Cook specified that Apple is concentrating on researching the self-driving technology. Furthermore, he views autonomous systems as a core technology that can potentially have numerous applications outside of self-driving vehicles. Cook has expressed that building the software is Apple’s main focus. However, he did not confirm whether the company had explicit plans to manufacture its own car.

Apple’s interest in automotive technology and automated systems comes as no surprise as photos of the company’s autonomous vehicle test drives had emerged in April. California authorities had granted Apple mission to test vehicles in March. Apple’s car team, internally known as “Project Titan,” formed in 2014. It has since then scaled back its ambitions, prioritizing the underlying software behind driverless cars over building its own car.

Cook’s statement falls in line with Apple’s ongoing investment in research related to machine learning and automation and their potential in many fields such as transportation.

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