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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum
GLD 421.63-0.1%Jan 13 4:00 PM EST
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From: Julius Wong12/23/2020 9:58:15 AM
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Apple seen partnering in electric vehicles with Tesla, Volkswagen or Nio
Dec. 23, 2020 7:47 AM ET Apple Inc. (AAPL) By: Clark Schultz, SA News Editor 126 Comments

More electrifying stuff out of the EV sector as Wedbush Securities analyst Dan Ives tips this morning that the firm believes Apple (NASDAQ: AAPL) will ultimately announces an electric vehicle strategic partnership in 2021 that lays the groundwork to enter the burgeoning EV space.

Ives notes that Apple has been working in Cupertino for years around the autonomous vision and believes a potential strategic partnership with an established EV player such as Tesla (NASDAQ: TSLA) or Volkswagen ( OTCPK:VWAGY) would be a "golden partnership" for the next decade tapping into the EV opportunity.

"We believe based on our investor conversations over the last few days that many on the Street would rather see Apple partner on the EV path, than start building its own vehicles/factories given the margin and financial model implications down the road, coupled with the strategic product risk around such a gargantuan endeavor. This speaks to our view that the chances of a strategic partnerships with the likes of a Tesla, VW, or other auto manufacturers in China (e.g., Nio, Xpeng) are in the 70%+ range over the next few years and could lay the groundwork for a dual path (start building its own line of EV autos post 2025) over the next decade if this EV/autonomous venture is successful with consumers. This is similar to our view of what Chinese tech stalwart Baidu ultimately embarks on in the form of a strategic EV partnerships/collaboration in China as opposed to launching its own auto product line right out of the gates. In a nutshell, this would only expand the massive TAM for Apple over time to go aggressively after the EV market, however as we have seen in decades of following Apple many products/strategic ideas happen in the labs of Cupertino that ultimately never leave the confines of Apple Park."

Wedbush has an Outperform rating on Apple with a price target of $160. Tesla is rated at Neutral and tagged with a 12-month price target of $715 and bull case PT of $1,000.
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