What you need to know
- JP Morgan analyst Samik Chatterjee says Apple will "go big or go home" with its electric car.
- The analyst says that the car will be completely autonomous and be built by Apple itself.
In an investor note seen by the outlet, lead analyst Samik Chatterjee says that Apple will "go big or go home" with its autonomous vehicle.
Echoing similar thoughts from Morgan Stanley, Chatterjee says that Apple recognizes the auto industry as an enormous growth opportunity that could dwarf its smartphone business.
The analyst points to recent reports that "indicate expansion and building momentum of intent to participate in the industry." He also mentions Apple's recent changes in leadership on the project and its continuous hirings of ex-Tesla employees and others from the industry.
There have many conflicting reports surrounding Apple's rumored car project. Just recently, its been reported that instead of manufacturing the car itself, Apple will tap Hyundai Motors to assist in manufacturing as soon as 2024.
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Joe Wituschek is a Contributor at iMore. With over ten years in the technology industry, one of them being at Apple, Joe now covers the company for the website. In addition to covering breaking news, Joe also writes editorials and reviews for a range of products. He fell in love with Apple products when he got an iPod nano for Christmas almost twenty years ago. Despite being considered a "heavy" user, he has always preferred the consumer-focused products like the MacBook Air, iPad mini, and iPhone 13 mini. He will fight to the death to keep a mini iPhone in the lineup. In his free time, Joe enjoys video games, movies, photography, running, and basically everything outdoors.