Phillip Elmer-Dewitt reports a note to clients from Guggenheim analyst Robert Cihra for Apple 3.0.
• We believe Apple needs big new [Total Addressable Markets] TAMs to keep growing and we reiterate our expectation that it ultimately launches a self-driving CAR, irrespective of contrary news flow and even its own hesitations to date.
• Apple is also investing in original MEDIA content as its other big new TAM, but we see cars better fitting its product-centric business model.
• We think consensus is that Apple has pulled back on ambitions to launch a car and is now just focusing on autonomous tech to sell to others, but we see no history of Apple acting as a “supplier” of core tech to other OEMs, and its entire business model rather built on owning/controlling the end-to-end experience.
• Given the market’s sheer size and parallels to Apple’s historical MO, we remain convinced that it will inevitably be drawn into launching its own car.
— Robert Cihra
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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
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