As Apple has become the first publicly traded US company to reach a market capitalisation of $1 trillion, leaving behind other tech giants, such as Amazon, Alphabet and Microsoft, the Cupertino-based iPhone maker will earn its two trillion dollar market cap through its services business, an augmented reality headset, and an Apple Car, reputable Apple analyst Ming-Chi Kuo from TF International Securities has said.
“Apple will launch an Apple Car sometime between 2023 and 2025, with the car set to be positioned as ‘the next star product,’ said Kuo.
Auto sector is witnessing huge replacement demand as it's in the process of being redefined with new technologies, Kuo said, adding that Apple can do "better integration of hardware, software and services" than current competitors that would redefine cars and "differentiate the Apple Car from peers’ products."
While to launch an Apple Car was Apple’s initial plan, but the company later shifted to autonomous driving software for cars due to internal strife, leadership issues in the firm-- rather than an Apple-branded and designed vehicle.
Apple has been experimenting with its autonomous driving software out on the Lexus SUVs on the streets of Cupertino.
The company also recently hired Doug Fields, who spent five years as Tesla's lead engineer, which indicates that Apple could be reconsidering the idea of building its own branded vehicle.
“Apple is planning to introduce AR glasses in 2020, expanding on its existing augmented reality market,” added Kuo. The smart glasses are said to come with a dedicated display, a built-in processor, and a new "rOS" or reality operating system based on iOS.