Apple's Scrapped Car Project Means AI and Headset Bets Are More Urgent

Bloomberg02-28

Company needs to restart search for next blockbuster productAlphabet and Chinese rivals still focused on automotive marketIn abandoning plans for a self-driving car, Apple Inc. is giving up on ...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

DanielChua
02-28
DanielChua
Good news for AAPL. AAPL not going to be car company
Deshost
02-28
Deshost
May I add my 2 cent worth? Apple seems a bit lost about its core business and business strategies. Can Apple be all over the places from smart car, mobile phone, generative AI, consumer wearables and what not without the above business sense and twchnological prowess of the Steve Job's era? Steve Job might be able to help alleviate the solution but not completely if he was still around. His techological brilliance and smart approach may help in some areas such as telecommunications and mobile phone related projects but not all definitely including the strapped smart car. The smart car never took off likely due to the fast evolving paces of industry which Apple couldn't manage to obtain an advantage from it's late to start strategy that's wisely use in the various generations of
- breAkdaWn:
  maybe a washing machine too!
AlanTLK
02-28
AlanTLK
Smart. Can't beat Tesla which is best in class. Must as well focus on their core strength instead of playing second fiddle. $TSLA🦾

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/1190525462?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-02-28 11:55","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"1190525462","market":"us","top_or_hot":-1,"title":"Apple's Scrapped Car Project Means AI and Headset Bets Are More Urgent","media":"Bloomberg","content":"<div>\n<p>Company needs to restart search for next blockbuster productAlphabet and Chinese rivals still focused on automotive marketIn abandoning plans for a self-driving car, Apple Inc. is giving up on ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2024-02-28/apple-cancels-its-electric-car-in-favor-of-ai-vision-pro?srnd=homepage-asia\">Source Link</a>\n\n</div>\n","source":"lsy1584095487587","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Apple's Scrapped Car Project Means AI and Headset Bets Are More Urgent</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nApple's Scrapped Car Project Means AI and Headset Bets Are More Urgent\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-02-28 11:55 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2024-02-28/apple-cancels-its-electric-car-in-favor-of-ai-vision-pro?srnd=homepage-asia><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Company needs to restart search for next blockbuster productAlphabet and Chinese rivals still focused on automotive marketIn abandoning plans for a self-driving car, Apple Inc. is giving up on ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2024-02-28/apple-cancels-its-electric-car-in-favor-of-ai-vision-pro?srnd=homepage-asia\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"AAPL","symbol_name":"苹果","start_time":0,"source_url":"https://www.bloomberg.com/news/articles/2024-02-28/apple-cancels-its-electric-car-in-favor-of-ai-vision-pro?srnd=homepage-asia","article_id":"1190525462","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1190525462","pubTimestamp":1709092502,"sourceInfo":{"source_id":"lsy1584095487587","name":"Bloomberg"},"weMediaInfo":null,"summary":"Company needs to restart search for next blockbuster productAlphabet and Chinese rivals still focused on automotive marketIn abandoning plans for a self-driving car, Apple Inc. is giving up on billion","collect":0,"end_time":0,"defaultTopTitle":"bloomberg.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"AAPL":"苹果"},"translate_title":"苹果的报废汽车项目意味着人工智能和耳机赌注更加紧迫","themeId":"d5a154ad31824bafb78dd4878d009f3e","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"AAPL":1.1},"content_text":"Company needs to restart search for next blockbuster productAlphabet and Chinese rivals still focused on automotive marketIn abandoning plans for a self-driving car, Apple Inc. is giving up on billions in potential revenue and the dream of selling what one executive called “the ultimate mobile device.” The hope is that other big bets — including generative AI and mixed-reality headsets — can make up the difference.Apple reached this crossroads Tuesday, when it told employees it was winding down the car project and reassigned some of the staff to its AI efforts. The decision followed months of frenzied meetings between top executives and the company’s board over how to proceed. Chief Operating Officer Jeff Williams and project head Kevin Lynch broke the news to the roughly 2,000-member team during a meeting that lasted less than 15 minutes.The upshot: Apple’s future isn’t going to hinge on selling $100,000 cars with self-driving features. Instead, it will focus on catching up with rivals in the generative AI industry, where chatbots from OpenAI and Google have captured the imagination of consumers and investors. The shift also lets Apple concentrate on turning the Vision Pro headset — still a fledgling product — into a mainstream hit.Investors and analysts applauded the move, which lets Apple avoid an electric-vehicle market that’s grown more perilous in recent months. Shifting resources toward generative AI is the right call “given the long-term profitability potential of AI revenue streams versus cars,” Bloomberg Intelligence analysts Anurag Rana and Andrew Girard said.But the decision also eliminates a future revenue source at a time when Apple has been struggling to maintain growth. Though the company managed to pull out of a sales slump last quarter, it warned that the current period will be sluggish again. The Vision Pro just launched this month and isn’t expected to be a major contributor to growth for years, if ever.With a car, profit margins would have been slim but the revenue potential was massive. The idea was long touted as one of Apple’s famous “next big things” and could have more firmly locked consumers into the company’s ecosystem. Tesla Inc., which led the EV revolution in the US, generated nearly $100 billion in revenue last year. Furthermore, tech giants like Alphabet Inc. and Chinese rivals remain focused on cars.Apple’s decadelong car effort, known as Project Titan, also was an AI challenge in itself. Apple attempted to build an artificial intelligence system that was powerful and energy-efficient enough to make a car fully autonomous.With that off the table, Apple can concentrate on applying AI to its current products, including the iPhone and iPad, and avoid falling further behind tech peers like Alphabet’s Google, Amazon.com Inc. and Microsoft Corp.Apple is planning to reveal new AI capabilities, including more automated tools for software development and features for summarizing news articles, at its conference for developers in June. The first new features are planned for iOS 18, which will be released around September alongside the next iPhones, Bloomberg News has reported.Those efforts now have fresh recruits, thanks to the winding down of the car endeavor — known as the Special Projects Group, or SPG. The company will relocate about a third of the vehicle team to other divisions.Meanwhile, hundreds of people working on autonomous driving hardware, car interiors and exteriors, and vehicle electronics will need to seek new jobs inside the company. If they can’t find roles, they’ll be laid off. And some employees have already been informed that they’ll be heading for the exits.Three main groups within SPG — a software team based in Ottawa under executive Dan Dodge; a cloud engineering and software group under Libo Meyers; and a software project management team under Vera Carr — will be shifted to Craig Federighi’s software department to work on Apple’s main operating systems.Apple’s artificial intelligence team for the car, which had been reporting to Stuart Bowers, will be shifted to work on generative AI in John Giannandrea’s machine learning division. Some of the car talent could also apply their skills to the Vision Pro. That product has many features, including the ability to create a virtual representation of its wearer, that rely on artificial intelligence.The big question is how soon AI might make serious money for Apple. It’s unlikely that the company will have a full-scale AI lineup of applications and features for a few years. And Apple’s penchant for user privacy could make it challenging to compete aggressively in the market.For now, Apple will continue to make most of its money from hardware. The iPhone alone accounts for about half its revenue. So AI’s biggest potential in the near term will be its ability to sell iPhones, iPads and other devices.As for the Vision Pro, which melds virtual and augmented reality, that too is years away from being a major moneymaker. The immersive technology has thrilled some early adopters, but the first version of the device remains too cumbersome and costly. Even if it sells a few million units a year, the $3,500 headset will only be a small percentage of Apple’s nearly $400 billion annual revenue total.The company is exploring other big ideas, including lighter-weight AR glasses, new smart-home devices and AirPods with cameras. But it will take years to tell whether a range of smaller products can replace what would have been Apple’s biggest: a car.","kind":null,"is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[{"id":278994774605984,"gmtCreate":1709135571124,"gmtModify":1709135575408,"author":{"id":"3562583894076083","authorId":"3562583894076083","name":"DanielChua","avatar":"https://static.tigerbbs.com/eb99cbeb59154889449e1a2564d94a47","vip":1,"crmLevel":4,"crmLevelSwitch":0,"idStr":"3562583894076083","authorIdStr":"3562583894076083"},"htmlText":"Good news for AAPL. AAPL not going to be car company&nbsp;","listText":"Good news for AAPL. AAPL not going to be car company&nbsp;","text":"Good news for AAPL. AAPL not going to be car company","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/278994774605984","repostId":1190525462,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":278833346502808,"gmtCreate":1709102180533,"gmtModify":1709107186468,"author":{"id":"4090382051893560","authorId":"4090382051893560","name":"Deshost","avatar":"https://community-static.tradeup.com/news/7a8c57f0d0e18dca8d6ab148e9f7acce","vip":1,"crmLevel":5,"crmLevelSwitch":1,"idStr":"4090382051893560","authorIdStr":"4090382051893560"},"htmlText":"May I add my 2 cent worth? Apple seems a bit lost about its core business and business strategies. Can Apple be all over the places from smart car, mobile phone, generative AI, consumer wearables and what not without the above business sense and twchnological prowess of the Steve Job's era? Steve Job might be able to help alleviate the solution but not completely if he was still around. His techological brilliance and smart approach may help in some areas such as telecommunications and&nbsp;mobile phone related projects but not all definitely including the strapped smart car.&nbsp; The smart car never took off likely due to the fast evolving paces of industry which Apple couldn't manage to obtain an advantage from it's late to start strategy that's wisely use in the various generations of","listText":"May I add my 2 cent worth? Apple seems a bit lost about its core business and business strategies. Can Apple be all over the places from smart car, mobile phone, generative AI, consumer wearables and what not without the above business sense and twchnological prowess of the Steve Job's era? Steve Job might be able to help alleviate the solution but not completely if he was still around. His techological brilliance and smart approach may help in some areas such as telecommunications and&nbsp;mobile phone related projects but not all definitely including the strapped smart car.&nbsp; The smart car never took off likely due to the fast evolving paces of industry which Apple couldn't manage to obtain an advantage from it's late to start strategy that's wisely use in the various generations of","text":"May I add my 2 cent worth? Apple seems a bit lost about its core business and business strategies. Can Apple be all over the places from smart car, mobile phone, generative AI, consumer wearables and what not without the above business sense and twchnological prowess of the Steve Job's era? Steve Job might be able to help alleviate the solution but not completely if he was still around. His techological brilliance and smart approach may help in some areas such as telecommunications and mobile phone related projects but not all definitely including the strapped smart car. The smart car never took off likely due to the fast evolving paces of industry which Apple couldn't manage to obtain an advantage from it's late to start strategy that's wisely use in the various generations of","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":25,"commentSize":1,"repostSize":2,"link":"https://ttm.financial/post/278833346502808","repostId":1190525462,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":298923795796208,"gmtCreate":1714011258396,"gmtModify":1714011264339,"authorId":3569809505691000,"author":{"id":3569809505691000,"idStr":"3569809505691000","authorId":3569809505691000,"name":"breAkdaWn","avatar":"https://community-static.tradeup.com/news/4c3676c14de9bfcd6f45bcf7ba4ddb6c","vip":1,"currentWearingBadge":{"badgeId":"44212b71d0be4ec88898348dbe882e03-2","templateUuid":"44212b71d0be4ec88898348dbe882e03","name":"Executive Tiger","description":"The transaction amount of the securities account reaches $300,000","bigImgUrl":"https://static.tigerbbs.com/9d20b23f1b6335407f882bc5c2ad12c0","smallImgUrl":"https://static.tigerbbs.com/ada3b4533518ace8404a3f6dd192bd29","grayImgUrl":"https://static.tigerbbs.com/177f283ba21d1c077054dac07f88f3bd","redirectLinkEnabled":0,"hasAllocated":1,"isWearing":1,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2022.01.11","exceedPercentage":"80.62%","individualDisplayEnabled":0,"individualDisplaySort":0,"categoryType":1101},"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":278833346502808,"type":1,"supId":0,"prevId":0,"content":"maybe a washing machine too!","text":"maybe a washing machine too!","html":"maybe a washing machine too!"}],"langContent":"EN"},{"id":278828016537864,"gmtCreate":1709101051139,"gmtModify":1709101055166,"author":{"id":"4090374759889920","authorId":"4090374759889920","name":"AlanTLK","avatar":"https://community-static.tradeup.com/news/d8c804e09823389ba56fa2f288d76d11","vip":1,"hat":"https://static.tigerbbs.com/f84d87792f02cf78e80ee34979fd31e5","crmLevel":6,"crmLevelSwitch":1,"idStr":"4090374759889920","authorIdStr":"4090374759889920"},"htmlText":"Smart. Can't beat Tesla which is best in class. Must as well focus on their core strength instead of playing second fiddle. $TSLA🦾","listText":"Smart. Can't beat Tesla which is best in class. Must as well focus on their core strength instead of playing second fiddle. $TSLA🦾","text":"Smart. Can't beat Tesla which is best in class. Must as well focus on their core strength instead of playing second fiddle. $TSLA🦾","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/278828016537864","repostId":1190525462,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":11,"commentSize":3,"repostSize":3,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1190525462"}