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Technology Stocks : Investing in Exponential Growth
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From: Paul H. Christiansen6/14/2017 2:02:00 PM
   of 1084
 
Tesla: Not Competition. Serious Competition.



Apple CEO Tim Cook said autonomous driving is a "core technology." One analyst contends that means "serious competition" for Tesla.

Ben Levisohn

June 14, 2017 9:51 a.m. ET

Morgan Stanley's Adam Jonas has been warning that Tesla's ( TSLA) real competition will come not from automakers like General Motors ( GM) and Ford Motor ( F) but from tech companies likeApple ( AAPL) and Alphabet ( GOOGL). And today he's doubling down on that view following Apple CEO Tim Cook's statement that he considers autonomous cars as a " core technology."



Now Jonas is not just seeing competition but "serious competition." And no, he doesn't see Tesla's lead as insurmountable. He explains why:

Many investors we speak with believe Tesla’s lead in miles traveled and data capture is insurmountable. We question this position, particularly at this still very early stage of commercial applications of shared autonomy. It is the working assumption of the Morgan Stanley Global Autos & Shared Mobility team and the Tech Hardware team (led by Katy Huberty) that Apple will pursue a strategy in cars/transport. An addressable market we calculate is worth many trillions of dollars in revenue and many hundreds of billions of consumer hours annually.

Shares of Tesla Motors have risen 1% to $379.80 at 8:46 a.m. today, while Apple has ticked up 0.1% to $146.69, Alphabet has risen 0.5% to $975.30, Ford Motor has dropped 1% to $11.15, and General Motors has fallen 0.7% to $34.26.

barrons.com

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