iCAR – NAV SET FOR AAPL DEAD END

Apple iCAR – NAV SET FOR AAPL DEAD END Caleb Gibbons, CFA, FRM,– Originally at IBankCoin. Reposted with permission

I for one think that Apple Inc. (NASDAQ:AAPL) entering the automobile business is a very bad decision. Road & Track’s rendering looks like a Citroen and we know the lumps the French have taken on that misventure over the years. It has been reported this week that Apple has spent $4.7bln on automotive technology R&D over the 2011-2015 period, nearly 25x what incumbents (i.e. actual car companies) have spent on R&D, in aggregate, over the same period ($192mm). Apple’s “Project Titan” (the name of Nissan’s capable truck offering) is said to target having 1,800 employee by 2019. A...