Apple said to be pushing ahead on self-driving car in challenge to Tesla
Dec. 21, 2020 3:54 PM ETApple Inc. (AAPL), TSLAAAPL, GOOG, TSLA, UBER, LYFTBy: Clark Schultz, SA News Editor622 Comments
- Apple (AAPL +0.5%) is moving forward with self-driving car technology and targeting 2024 as the year it produces a passenger car of its own, sources tell Reuters.
- The self-driving car push could include Apple using is own "breakthrough" battery technology.
- The company's Project Titan has been moving in fits and starts since 2014, including reverting back to a software push at one point.
- Shares of Tesla (TSLA -6.6%) have spun lower off the latest Apple car news. The development is also of interest to Waymo (NASDAQ:GOOG), Uber (UBER +2.3%) and Lyft (LYFT -0.3%).
- Tesla was already lower before the Apple news broke on its first day as part of S&P 500 Index debut.
- Compare Apple and Tesla side by side on valuation, growth, profitability and momentum measures.