“Soon after passing $1 trillion in market capitalization, some Apple investors are already looking ahead to $2 trillion,” Annie Gaus reports for The Street. “According to one Apple analyst, Ming-Chi Kuo of Hong Kong-based TF International Securities, it won’t be the iPhone, iWatch or even stock buybacks that will push Apple in that direction. It will be — wait for it — augmented reality and cars, Kuo predicted in a note to clients this week, writing that ‘Services, AR, and Apple Car will create Apple’s next trillion-dollar market cap.'”
“Apple’s services segment — which is its umbrella category for software-based products like iTunes, the App Store, Apple Pay, iCloud and Apple Care, among others — is often cited as a key to Apple’s future growth,” Gaus reports. “AR is still in its early days for Apple, but if the content of Apple’s WWDC conference in June was any indication, Apple executives see it as the next breakthrough technology. At the developer’s conference, Apple’s VP of software engineering Craig Federighi described AR as a ‘transformative technology’ that will someday be accessible across all of Apple’s devices… Kuo [wrote] that ‘AR is the next-generation revolutionary UI; we therefore think that AR does not need any killer applications given it is a killer application already.’ Its primary vehicle won’t be the phone, he predicted; instead, Apple will launch an AR glasses product in 2020.”
Gaus reports, “Kuo’s Apple Car prediction was even more intriguing, given rumors of the project’s demise.”
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MacDailyNews Take: The rumors of Project Titan’s demise were planted by Apple in order to tamp down a rumor mill that was getting way too heated way too early.