Apple Forecasts based on a Predictive Algorithm
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Apple Forecasts based on a Predictive Algorithm
An Apple electric car has been rumored for about a year now, with the new project being named Project Titan. Now, this rumored project appears to be more concrete, with the Wall Street Journal reporting that the company is internally aiming to start shipping the electric vehicles by 2019.
Documents obtained by The Guardian show Apple’s self-driving car is certainly further along than many suspected. In order to test its developing car, Apple is scouting for secure locations in the San Francisco Bay area.
Apply and BMW may still be on course to produce the much anticipated Apple Car in the upcoming future. The two companies have been discussing the idea over the past several months however, it is thought that talks broke down between the two giants earlier this year. Although no deal has officially materialized, Rueters have reported that Tim Cook and other senior officials have toured the luxury automobile’s headquarters earlier this month. It is understood that Apple are very keen on basing their Apple Car idea on BMW electric i3 model.
Speculation over a potential Apple Car built up again last week after another hire in the automotive industry and rumors of cooperation with BMW. On Monday, Apple hired former Chrysler executive Doug Betts, according to the Wall Street Journal. His hire was only the latest in a string of automotive hires over the last few months. Now, a German magazine has reported that Apple is hoping to base its own vehicle on BMW’s i3.
Rumors have persisted for months that Apple was looking into entering the car market, supposedly with a codename of Titan. At Re/code’s code conference, an Apple executive walked right up to the line when commenting about whether the company will enter the car business, although he did not actually commit to doing so. Apple Senior VP Jeff Williams responded to a question about the new potential market by saying, “The car is the ultimate mobile device.”
Tesla CEO Elon Musk said he is fine with Apple entering the car market during his company’s earnings call yesterday, while providing some insight into Apple’s attempt to enter the market. When answering a question about whether Tesla was losing engineers to the tech giant, he announced that his company had acquired 5 employees from Apple for every 1 that they lost. This is in contrast to comments earlier this year, when Musk said that Apple was trying very hard to poach his employees with offers of $250,000 signing bonuses and 60% pay raises.
Reports surfaced earlier this week that Apple had started a team charged with designing an electric car to take on Tesla and other automobile designers. Rumors circulated that Apple had hired people from the automotive industry and seems poised to build an automobile that may or may not drive itself. A123 Systems, a lithium-ion battery maker for electric cars and other business sectors, is suing Apple for what it alleges is an aggressive campaign to poach employees.
Several media outlets have reported in the last week that Apple is working to create an electric car that might be driverless, although the company has yet to confirm the reports. The stock price climbed on Friday amid rumors that the tech giant is actively recruiting automobile industry experts for work at a secret lab. Earlier this week, CEO Tim Cook announced that the automobile OS CarPlay would be a crucial technology platform for the company in the future.
I Know First-Daily Market Forecast, does not provide personal investment or financial advice to individuals, or act as personal financial, legal, or institutional investment advisors, or individually advocate the purchase or sale of any security or investment or the use of any particular financial strategy. All investing, stock forecasts and investment strategies include the risk of loss for some or even all of your capital. Before pursuing any financial strategies discussed on this website, you should always consult with a licensed financial advisor.
I Know First-Daily Market Forecast, does not provide personal investment or financial advice to individuals, or act as personal financial, legal, or institutional investment advisors, or individually advocate the purchase or sale of any security or investment or the use of any particular financial strategy. All investing, stock forecasts and investment strategies include the risk of loss for some or even all of your capital. Before pursuing any financial strategies discussed on this website, you should always consult with a licensed financial advisor.
