Cathie Wood says Apple should’ve bought Tesla, but ‘we’re happy they didn’t’

Ark Invest’s Cathie Wood told CNBC on Wednesday that Apple should’ve bought Tesla and would’ve owned the electric vehicle market. “We’re happy they didn’t,” said Wood, a longtime TSLA uber-bull and believer in CEO Elon Musk.

Elon Musk
Elon Musk

Matthew J. Belvedere for CNBC:

Closely watched money manager Cathie Wood told CNBC on Wednesday that Apple could have owned the driverless vehicle market by purchasing Tesla when given the chance during the electric vehicle maker’s troubled Model 3 ramp-up.

“We’ve been watching Apple very carefully for years now. Because what is an autonomous vehicle? It’s the ultimate mobile device,” she said in a wide-ranging “Squawk Box” interview.

Wood — a longtime Tesla uber-bull and shareholder and believer in CEO Elon Musk — told CNBC, “This should have been Apple’s market. Apple should have bought Tesla, actually when they were given the opportunity. We’re happy they didn’t.”

Musk revealed, in a tweet in December 2020, that he reached out to Apple CEO Tim Cook “during the darkest days for the Model 3 program” about the possibility of selling Tesla ”(for 1/10 of our current value).” Musk said Cook “refused to take the meeting.”

MacDailyNews Take: So, what’s the unspoken reason why Wood is happy that Apple didn’t purchase Tesla?

Because Musk would’ve be out and Tesla instead headed by Apple management instead.

One shoots for the stars and the other counts beans.

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12 Comments

  1. F’g glad that didn’t happen. I cannot figure out the bro-mance many have for the nut that happens to be smart. Cook may be boring and his penchant for using the AAPL platform to curate the World per his own ideals is often involves hypocrisy, but the guy knows how to make money…lots of $$.

    Elon has been at it for over a decade and he just had his 1st profitable year. Take away the govt love and subsidies and, it’s reasonable to think, Tesla would be a different company. Elon to the moon.

    1. Tim’s main talent is the operational side. Steve had all the critical pieces in place before he took over.

      And don’t forget it took Apple multiple decades (and a near-death experience) to get where it is today.

      1. Of course “ to get where it is today,” but Apple was hugely successful almost f the start. Steve was worth 100m in his early 20’s and it came Apple’s success…no govt coddling.

    2. Tim should go run Edison International, where he can be boring and no one will care. Maybe someone like Tim could fix the energy supply chain in California before it collapses in on itself from leftist policies. Bring someone like Musk to Apple; you might see actual passion for creativity for a change.

      1. Elon Musk: “I reached out to Tim Cook to discuss the possibility of Apple acquiring Tesla (for 1/10 of our current value). He refused to take the meeting.”

        How he refused is one question. But more importantly, why he refused is the trillion dollar question. Wuss Cook at the very least should have respectfully entertained a high profile open mind meeting regardless of outcome.

        When we look at Cook’s acquisition record expenditure Beats the largest and wasteful for sub class headphones smells of Leftist connotations pandering to the Left. Also a pittance of smaller companies and struggling to think of the investment contribution to Apple.

        Cook is not a visionary, he is a left brain balance sheet hawk and alas, the money and talent this company has, should be releasing blockbuster innovations regularly, not minor iteration upgrades for years now.

        M1 chip the lone EXCEPTION excluded…

  2. Who outside of California, which is an overpopulated dumpster fire due to their own ‘Let’s light the dumpster we made on fire!’ policies, or the current Whitehouse, even cares about the electric car ‘market’? Most people around here are buying SUV’s, gigantic wagons, and pickup trucks. I am in the strict minority with my little sedan, and I do not live in farm country. Outside of California, you may see a Tesla in traffic, once. If you’re lucky. These large states with unsustainably high populations fool themselves into thinking they live in the world at large when in reality they inhabit the most insignificant of bubbles in the bigger picture.

    I predict that now that they can squeeze no more blood out of what Jobs left to them, Tim’s Apple is straight up out of ideas. It will only be more mediocre as time goes by, and no, that will likely not impact their bottom line, just as it didn’t with Microsoft in the 90s in spite of utter cr*p they churned out quarter after quarter.

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