“Apple will earn its two trillion dollar market cap through its services business, an augmented reality headset, and an Apple Car, according to reputable Apple analyst Ming-Chi Kuo, who now works for TF International Securities and today sent out a new note for investors outlining products that he expects to see in Apple’s future,” Juli Clover reports for MacRumors. “According to Kuo, Apple will launch an Apple Car sometime between 2023 and 2025, with the car set to be positioned as ‘the next star product.’ Kuo foresees the Apple Car revolutionizing the automobile market much as the iPhone did back in 2007.”

We expect that Apple Car, which will likely be launched in 2023–2025, will be the next star product. The reasons for this are as follows: (1) Potentially huge replacement demands are emerging in the auto sector because it is being redefined by new technologies. The case is the same as the smartphone sector 10 years ago; (2) Apple’s leading technology advantages (e.g. AR) would redefine cars and differentiate Apple Car from peers’ products; (3) Apple’s service will grow significantly by entering the huge car finance market via Apple Car, and (4) Apple can do a better integration of hardware, software, and service than current competitors in the consumer electronics sector and potential competitors in the auto sector. — Ming-Chi Kuo, TF International Securities

“Recent hirings, including that of Doug Fields, who spent five years as Tesla’s lead engineer, have… led to speculation that Apple may be reconsidering the idea of building its own vehicle,” Clover reports. “If Kuo is correct, Apple’s current autonomous software research could be built into an actual Apple-branded car at some point.”

Read more in the full article here.

MacDailyNews Take: Shhh! Apple doesn’t want anyone to think this just yet!

I’ve always wanted to own and control the primary technology in everything we do.Steve Jobs, October 12, 2004

• In order to build the best products, you have to own the primary technologies. Steve felt that if Apple could do that — make great products and great tools for people — they in turn would do great things. He felt strongly that this would be his contribution to the world at large. We still very much believe that. That’s still the core of this company.Apple CEO Tim Cook, March 18, 2015

SEE ALSO:
Apple’s Project Titan is still a go, says analyst – June 28, 2018
Apple’s autonomous vehicle fleet grows to 62 vehicles in California – May 29, 2018
Apple’s autonomous vehicle project may be closer to fruition than it appears – May 25, 2018
Google buys 20,000 SUVs, Apple gets two dozen VW vans – May 24, 2018
Volkswagen looks to Apple for electric-car design guidance – February 16, 2018
Apple said to develop car operating system in Canada – October 25, 2016
Apple scales back ‘Project Titan,’ effort no longer includes building own car – October 17, 2016
Apple’s Bob Mansfield reboots Apple Car project, lays off several dozen employees – September 10, 2016
South Korea company’s never-before-revealed battery technology expected to be Apple Car’s ‘secret weapon’ – August 9, 2016
Apple Car: Everything we know about Apple’s mysterious ‘Project Titan’ – July 29, 2016
Apple Car: An operating system licensed to other auto-makers? – July 29, 2016
Apple hires founder of QNX with Apple Car project increasing focus on self-driving software – July 28, 2016
Apple taps Bob Mansfield to oversee Apple Car project – July 25, 2016