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Move Over Tesla Motors Inc (TSLA), Apple Inc. (AAPL) May be Developing a New Car: Steve Man

There are strong rumors about Apple Inc. (NASDAQ:AAPL) working in a new and exciting product: an electric car. This might be a move to compete with Tesla Motors Inc (NASDAQ:TSLA). It is also said that the car will be self driving and that it will resemble a minivan; is it trying to target moms? Nobody can tell just how far in the development of the car it really is. Steve Man talks about this in a video Bloomberg’s YouTube channel.

Apple, is AAPL a goods stock to buy, cars, automotive, David Garrity,

“Apple may be developing an electric car to compete with the likes of Tesla. But, as you know, Apple has been in the business of creating something that’s new, that’s out of the box. An electric car is not really a new device, but something that may integrate the automobile to the rest of the world […], just like iTunes did with music, just like Apple Pay is to pay services,” Man said.

Apple Inc. (NASDAQ:AAPL) has always done things thinking differently from its competition, so its idea of an electric car is probably something we can’t begin to imagine. It’s obviously going to be a very smart car. How is it planning on integrating a smart, electric car with its existing devices? When asked why Apple Inc. (NASDAQ:AAPL) would move into something totally different:

“It’s not, as you know Apple has been very good at developing smart devices. They probably are hiring all these automotive industry experts to understand how an automobile works, how it interacts with it surrounding, how people interact with their automobile. So, Apple is trying to understand how that entire ecosystem works and probably developing a smart device that integrates itself with the automobile,” Man said.

If rumors are true, Apple Inc. (NASDAQ:AAPL) will probably change the way we’ll interact on all levels with a car, from how we turn it on, to how we drive it (or watch it drive itself); it will possibly be the smartest car ever made. And the smart device that could possibly integrate with the car has to be something that we never imagined possible.

This could be a great step for the company as it moves into a totally different industry that can finally help Apple Inc. (NASDAQ:AAPL) reduce its dependence on the sales of iPhones. The existing manufacturers of electric cars have to be prepared for a very strong competition from Apple, Inc., as it has always been in every industry it has ever laid its fingers on.

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