Apple’s self-driving car has gone through many twists and turns over the years. The project initially started out with plans for a full-fledged car, but internal problems forced the company to focus only on software. Now, noted Apple analyst Ming-Chi Kuo claims that the brand is going to release a car after all.
Not only that, but Kuo also predicts that the Apple Car will hit the streets at some point between 2023 and 2025. It’s apparently going to be the firm’s next star product, revolutionizing the automobile market just like the original iPhone did in 2007.
Why The Apple Car Will Be A Hit
Kuo thinks the Apple Car will be a hit because there are huge replacement demands in the auto sector since it’s being redefined by new tech. He compared this to the smartphone sector 10 years ago. The analyst also believes that the company’s technology advantages like AR will revolutionize cars and set its vehicles apart from others.
There’s also the fact that Apple integrates its hardware, software and services better than its rivals right now in the smartphone business, and can probably do the same in the automobile business. Kuo thinks the brand’s services branch will grow significantly by entering the car finance market through Apple Car.
The note actually outlines Apple’s journey towards a $2 trillion market cap. The Apple Car is the end goal, but the firm’s rumored AR glasses are supposedly coming by 2020. According to Kuo, AR is set to be the next-gen revolutionary tech. The company might rework the UI of its current products by presenting users with an AR experience brought to life by the AR glasses.
For now, Apple is busy testing its self-driving cars on the streets of California. It recently hired Tesla’s lead engineer, leading some to speculate that it was thinking of getting back in the car-making game. Kuo’s report offers some support for that theory, but we’ll have to wait and see whether there’s any truth to these rumors.