(Bloomberg) -- Apple Inc. could disrupt the automotive industry with an Apple Car much as it did the cell-phone industry with the iPhone, according to Evercore ISI analyst Amit Daryanani.
“IPhone was a computer in your pocket, Car will be a computer on wheels,” he said in a research note published Jan. 24.
Daryanani sees “increased probability” that Apple could introduce an autonomous electric vehicle in the next five years and make money from providing passengers with an array of services. He estimated a car could add $36 billion to Apple’s sales.
Apple reported revenue totaling $274.5 billion in fiscal year 2020. The company will release its first-quarter results on January 27.
Daryanani raised his target price for Apple stock to $160 a share; it traded up 3% to $143.18 at 1:12 p.m. in New York.
Development of an Apple Car is still in the early stages and is at least half a decade away, Bloomberg News reported earlier this month. The company also is investigating building its self-driving-car system for a third-party partner rather than an Apple vehicle, according to people with knowledge of the efforts.
Últimas Noticias
Debanhi Escobar: they secured the motel where she was found lifeless in a cistern
Members of the Specialized Prosecutor's Office in Nuevo León secured the Nueva Castilla Motel as part of the investigations into the case
The oldest person in the world died at the age of 119
Kane Tanaka lived in Japan. She was born six months earlier than George Orwell, the same year that the Wright brothers first flew, and Marie Curie became the first woman to win a Nobel Prize
Macabre find in CDMX: they left a body bagged and tied in a taxi
The body was left in the back seats of the car. It was covered with black bags and tied with industrial tape
The eagles of America will face Manchester City in a duel of legends. Here are the details
The top Mexican football champion will play a match with Pep Guardiola's squad in the Lone Star Cup
Why is it good to bring dogs out to know the world when they are puppies
A so-called protection against the spread of diseases threatens the integral development of dogs
