Apple’s Reported Entry Into Autonomous Vehicle Sector to Push AAPL Higher
Tech giant Apple is set to enter the autonomous vehicle sector, and that could propel its stock price higher over the coming weeks and months.
Apple to Enter the Autonomous Vehicle Sector in 2025
Tech giant Apple is reportedly planning to launch self-driving cars by 2025. This latest development will put Apple in competition with electric vehicle giants such as Tesla and other market players, including Rivian and Lucid Motors.
According to Bloomberg, Apple wants to play a huge role in the development of electric and autonomous vehicles. The company has been known for decades for manufacturing mobile and computer devices. It has become popular for the iPhone, MacBook, iPod and other similar gadgets.
However, Apple is now looking to expand beyond the tech space and enter the automobile sector. The competition in the electric and autonomous vehicle space is set to grow bigger over the coming years as the traditional automobile giants, including Volkswagen, Ford, General Motors and others, also enter the sector.
AAPL Could Rally to $200 Soon
Apple remains the most valuable company in the world, with a market cap above $2.6 trillion. At press time, AAPL is trading at $160 per share, up by nearly 2% over the past 24 hours. Since the start of the year, AAPL has added more than 26% to its value, making it one of the best-performing tech stocks.
AAPL’s entry into the autonomous vehicle space could trigger further growth for the company over the coming years. The positive news generated by Apple’s reported plans to launch a self-driving car could push AAPL’s price towards the $200 level over the coming weeks and months.
Apple continues to set the trend in the tech space, and it would be interesting to see the competition within the autonomous vehicle space over the coming years.