The prospect of an “Apple Car” represent the clearest path to doubling Apple’s revenue and market cap, Morgan Stanley analyst Katy Huberty wrote in a note to clients on Friday.
“We see the prospects of Apple Car — representing the clearest path to doubling Apple’s revenue and market cap — catalyzing a shift in investor narrative back toward the attractiveness of the platform (1 billion loyal customers) and long-term sustainable growth,” wrote Morgan Stanley’s Katy Huberty.
Simply put, “investors should pay attention to Apple Car,” Huberty wrote.
“Evidence shows that when Apple enters new markets, it serves as a catalyst to expand the addressable market beyond what was previously imagined,” Huberty wrote, meaning that she thinks “Apple is likely to accelerate adoption of AVs [Autonomous Vehicles].”
“[M]uch of the brains and power of a self-driving car—including processors, sensors, [and] batteries—are already designed by Apple today,” she wrote, making the company “well positioned to solve complex technology, safety, performance, and manufacturing challenges of a self-driving car and to scale production faster than others targeting the same market.”
MacDailyNews Take: Only double?
Already, Apple has proven that the so-called law of large numbers is quite the flawed law.
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