Apple Seeks LiDAR Suppliers for Apple Car and Boeing’s Jets Suffer Engine Failure
A few months ago, the world was notified that Apple is working on a new car and attempting to break into the automotive industry. Although that car is not going to be complete for years, new updates are emerging. Most recently, Bloomberg reported that Apple is working on finding a supplier for LiDAR sensors that will be key for the company’s electric vehicle’s autonomous component.
This approach varies from a soon-to-be competitor, Tesla, who, rather than using LiDAR, uses a camera-based/computer vision system that includes training its AI with vast amounts of data from its customers. The Apple Car could arrive as soon as 2025, but Ming-Chi Kuo, a renowned predictor for Apple product releases, predicted it could come as late as 2028.
Boeing has taken measures to ensure their planes are in better condition than before as the company has been plagued by their aircraft issues. Despite this, however, that narrative may be getting less appealing as just yesterday, Airlines in the United States, South Korea, and Japan have grounded many Boeing 777 planes. This came in reaction to the fact that an aircraft suffered an engine failure, leading to debris crashing down over Denver, Colorado.
Shares of the company are down 3% in premarket trading after they rallied 4.3% on Friday; moreover, Boeing is projected to cut 30,000 jobs by the end of 2021 compared to the start of 2020.
I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.