Credit: AppleInsider AppleInsider may earn an affiliate commission on purchases made through links on our site. In a note to investors seen by AppleInsider , lead analyst Harsh Kumar laid out Piper Sandler’s framework for a potential “Apple Car” release. “Overall, we think Apple entering the automotive market makes perfect sense. Similar to its other hardware offerings, the company can enter the market at a time of peak technology disruption while avoiding the risk of forming the market,” Kumar wrote. It’s possible that Apple could opt to make its automotive debut smaller in scale with an upgraded CarPlay system or an Apple-branded vehicle user interface for use in other manufacturer cars. However, Kumar says he expects Apple will run with a “full-blown Apple branded electric vehicle.” That’s because Apple could control every aspect of the design, including the electric vehicle hardware and the baked-in software platform. Citing recent reports, Kumar points out that Apple may be targeting a run of 100,000 vehicles in 2024. Based on that, he says Apple could generate about $5 billion in revenue with just less than 0.1% of the market. If it reached 1% market penetration by 2030, that could grow to $50 billion. The… Read full this story
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