Analysts believe Apple has logical reasons to join vehicle market

Apple is believed to enter the vehicle market, developing an autonomous car - and some analysts are onboard with the idea.

Published Thu, Apr 16 2015 7:30 AM CDT   |   Updated Tue, Nov 3 2020 12:08 PM CST

Apple's decision to reportedly work on a vehicle makes sense, as the Silicon Valley company looks to jump into a market that has more than $1 trillion in yearly sales, according to Sanford C. Bernstein analysts.

Analysts believe Apple has logical reasons to join vehicle market | TweakTown.com

In their "5 Reasons Why We Believe Apple May Indeed Be Looking to Build a Car," analysts Toni Sacconaghi and Max Warburton also noted that Apple isn't afraid to enter an established market - and can rely on its established business ties in China to help foster possible car manufacturing capabilities.

In addition, Apple has a large amount of financial resources it can invest, and even with a high luxury price tag, the auto industry is expected to see luxury models increase sales in upcoming years.

"Are we convinced Apple is making a car? No," said the Bernstein analysts, in a statement published by USA Today Money. However, "We are more optimistic about the possibility of a car than we were initially."

An experienced tech journalist and marketing specialist, Michael joins TweakTown looking to cover everything from consumer electronics to enterprise cloud technology. A former Staff Writer at DailyTech, Michael is now the West Coast News Editor and will contribute news stories on a daily basis. In addition to contributing here, Michael also runs his own tech blog, AlamedaTech.com, while he looks to remain busy in the tech world.

Newsletter Subscription

Related Tags

Newsletter Subscription
Latest News
View More News
Latest Reviews
View More Reviews
Latest Articles
View More Articles