2 Stocks to Watch As Rumors of ‘Apple Car’ Swirl

By Timothy Sykes

Last updated on April 18, 2022
2 Stocks to Watch As Rumors of ‘Apple Car’ Swirl Thumbnail

Self-driving cars are slowly working their way onto our streets.

Tesla, Inc. (NASDAQ: TSLA) boasts one of the most successful autonomous driving vehicles to date … though the company states that drivers are expected to keep their hands on the wheel.

Many other companies, including Uber Technologies, Inc. (NYSE: UBER) and Google’s parent company Alphabet Inc. (NASDAQ: GOOG, GOOGL), have dipped their toes in the market. Now, there could be a new contender on deck…

From the iPod to the iPhone and the iPad, Apple Inc. (NASDAQ: AAPL) has a long history of dominating a market when it enters the field. There are plenty of competitors, but Apple’s devoted fan base tend to stay loyal to the brand.

Rumors are circulating that Apple is developing an iCar. The vehicle could launch as soon as September 2021. Rumour has it that the vehicle is fully electric, capable of full autonomy and loaded with lots of cool Apple tech.

Apple has yet to confirm or deny the rumors. But it’s not unusual for the company to leak info without an official announcement for months.

In December 2020, a few stocks in the self-driving field have already spiked. If Apple makes an announcement or more rumors circulate, it’s worth keeping an eye on these two for sympathy plays.

  1. MicroVision, Inc. (NASDAQ: MVIS) is a Seattle-based company that develops and manufactures LiDAR technology. These systems are already being used in collision avoidance systems.
  2. Foresight Autonomous Holdings Ltd. (NASDAQ: FRSX) is an Israeli-based company that specializes in autonomous driving. Its products include vehicle to vehicle communication along with network infrastructure products.

Neither of these companies has any public relationship with Apple, but perhaps a rising tide could lift all ships.

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Author imageTimothy Sykes
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