Anytime Apple is reported to be involved in the development of a product, the rumor mill tends to go into overdrive. It looks like Apple's reported development of a car, which is expected to be semi-autonomous and electric, has created a large buzz.
"We believe the auto industry represents a significant opportunity for Apple, but we also expect Apple to be deliberate as always in its product development and testing," said Gene Munster, an analyst from Piper Jaffray, in a recent analyst note.
It was first predicted an Apple vehicle prototype around 2020, but despite Apple's recent hiring spree, trying to go from concept to real-world prototype in such a short time is rather unlikely. Instead, it could take at least a decade before Apple ends up with a drivable vehicle on the road:
"If Apple makes a 'car' as we know it today, we expect it to be an electric vehicle that is likely priced in the luxury market," Munster noted, "given Apple's focus not only on environmentally friendly products today, but its vision to deliver future technologies even if they are a few years early."
Google has been quite straightforward about its autonomous vehicle research, keeping the public updated with numerous blog posts and announcements.