To Drive or Not to Drive 🚗

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To Drive or Not to Drive

The saying “An Apple a day keeps the doctor away” is a fun little way to encourage kids to eat fruit. Now it’s time for a saying dedicated to the adults “ An Apple A Day Keeps The Driving Away”.

Elon Musk might have been shaking in his boots Monday evening after Apple released an announcement that they are “moving forward” with plans to produce a passenger self-driving vehicle by developing its self-driving car technology.

The company plans on producing the vehicles in 2024 which gives Elon a bit of time to adapt and prepare but regardless of this, Tesla’s stock hit its lowest point of the day after the news was released. Remember, this all comes on the same day has become a constituent of the S&P 500, now making it the fifth largest by market cap on the index. 

Not only does the vehicle have the potential of competing with Tesla head-on but Reuters also reported that Apple will even have its “own breakthrough battery technology.” We’ll have to see, given the effects of the pandemic, whether everything will go as scheduled.

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.

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