Well respected Apple analyst Ming-Chi Kuo says that Apple is planning to launch an Apple Car in 2023 - 2025. In a new research note for TF International Securities, Kuo says that the Apple Car, Apple Glass, and Services will help propel the company to a $2 trillion market cap.The Apple Car is described as the company's "next star product".
The reasons for this are as follows:
(1) Potentially huge replacement demands are emerging in the auto sector because it is being redefined by new technologies. The case is the same as the smartphone sector 10 years ago;
(2) Apple’s leading technology advantages (e.g. AR) would redefine cars and differentiate Apple Car from peers’ products;
(3) Apple’s service will grow significantly by entering the huge car finance market via Apple Car, and
(4) Apple can do a better integration of hardware, software, and service than current competitors in the consumer electronics sector and potential competitors in the auto sector.
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