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  • Rowlands Venture Capital

Ambitious Apple excites markets by bringing forward plans to take on Tesla

Apple completed a highly successful stock split in September which caused its market value to increase to 2.3 trillion dollars, which is more than the entire market capitalization of London

The major event for this year took place in October when the company launched its new 5G capable iPhone 12. Despite some skepticism by Apple’s critics who said that consumers would not be interested in 5G during the worrying times of the pandemic, sales have gone through the roof – according to Counterpoint Research. Since its two iPhone models became available they have beaten all their rivals including Samsung

and captured almost a quarter of all 5g phone sales. Apple (NASDAQ:AAPL) is expected to report its highly anticipated fourth quarter sales in January, ahead of its earnings report estimated to take place on February 2nd. Apple also announced its new MacBook models and its new Apple M1 chip at a product launch in November. In December multiple reports suggested that the iPhone was flying off the shelves in China and will record high sales volumes in November.

The iPhone’s success aside, perhaps the most important story is the continued growth of the company. In November Bloomberg reported that Apple is forecasted to record revenue of more than 100 billion dollars for the fourth quarter of 2020.

In December Apple (NASDAQ:AAPL) announced plans to develop their driverless electric vehicle plans in an attempt to grab a piece of Tesla’s profitable pie. Project Titan, the plan to develop an electric vehicle, began in 2014 but progress has been slow. The company has faced problems moving into the car making sector amid some internal disagreements on strategy. But in December Reuters stated that Apple is aiming to release a vehicle as soon as 2024, with some Apple analysts claiming the car will be Apple’s next star product. The company was also reported to be making improved battery technology.

Also in December there were reports that the company might consider collaborating with Volkswagen (DE:VOWG_p) or the Chinese relative newcomer and electric car manufacturer Nio (NYSE:NIO). There were also whispers that alleged talks between company executives could potentially lead to a Tesla (NASDAQ:TSLA) Apple model, which would tie together two of the most iconic and seemingly unstoppable brands in the world.

All of this news has pushed Apple’s stock price upwards and at the time of writing the company has jumped by 12% in December alone.

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