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Evercore raises Apple's TP to US$160 on Apple Car prospects

Bloomberg
Bloomberg1/26/2021 11:55 AM GMT+08  • 1 min read
Evercore raises Apple's TP to US$160 on Apple Car prospects
The company will release its first-quarter results on Jan 27.
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Apple Inc. could disrupt the automotive industry with an Apple Car much as it did the cell-phone industry with the iPhone, according to Evercore ISI analyst Amit Daryanani.

“iPhone was a computer in your pocket, Car will be a computer on wheels,” he said in a research note published Jan 24.

Daryanani sees “increased probability” that Apple could introduce an autonomous electric vehicle in the next five years and make money from providing passengers with an array of services. He estimated a car could add $36 billion to Apple’s sales.

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