And why does it matter you ask?
Long-time Apple executive Bob Mansfield will lead Apple's electric car project, according to the Wall Street Journal.
TechCrunch reports:
"Mansfield stepped down from the Apple executive board in 2013, yet stayed around the company to work on, what Apple called, special projects.
In this role he was reporting directly to Apple CEO Tim Cook.
One of Mansfield's projects turned out to be the Apple Watch.
Now it seems he will head-up Apple's car ambitions -- a project Apple has yet to publicly confirm.
During Mansfield's tenure he lead the engineering teams responsible for numerous products including the MacBook Air, iMac, and the iPad."
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An ‘iCar’ On The Charts!
The Newest Project Apple Seems To Be Working On, To Challenge Google!
For Apple fan boys, this news will surely make them jump from their seats!
Seems like Apple Inc. has taken its innovation strategy to the next level, they are now onto developing driverless cars similar to their rivals Google Inc. and NASA.
An iCar Concept on The Charts
It might be called the ‘iCar’ or the ‘iWheels’ since Apple is ‘i’ everything with their product names.
Ever since Steve Jobs passed away, the company hasn’t really launched very path-breaking products as of yet; they only bettered their past products in a new avatar.
But this news, carried out first by Wall Street Journal sets the bar really high for the Cupertino based electronics giant; going from consumer electronics to the consumer automobile segment is a huge leap!
Since very few details have been leaked out till now, thus we can say for sure that a driver-less autonomous car it will be for sure!
Also, its design will be very different from car designs we see from other manufacturers since this is Apple – pioneers in design that enthralls its audience.
Tim Cook, the chief executive company, recently revealed in a statement to the media that, ‘There are some products that we’re working on currently and about which no one knows about or has spread rumors regarding them ’.
Steve Jobs himself always wanted to add a unique car to Apple’s bevy of products.
He was an ardent admirer of Porsche’s design and finesse.
He revered their matchless performance and brand philosophy.
It was one of Jobs’visionary ideas to create an automobile that supported their iconic logo on its grille.
One of Apple’s board members, Mickey Drexler had said last year that, “If Steve Jobs were alive, he was surely going to design an iCar for Apple.”
It’s good to know that one of his confidants, Tim Cook is living up to Job’s expectations from Apple before he passed away.
If we scrutinize the list of recently hired employees by Apple, about 50 in key positions are from Tesla, a company pioneering in electric cars.
Recently, a rumour was rife in the job market that the company is secretly recruiting the best people from around the world specializing in battery technology.
After all, electric cars run on batteries alone!
Apparently, Apple has created a new project, code-named the ‘Titan’ being led by Steve Zadesky, a former Ford engineer and an auto industry celeb in his own right.
The project currently employs hundreds of people working on a new car project.
Johann Jungwirth, the former head of Mercedes-Benz’s research and development division in Silicon Valley is also rumoured to be on the project list.
Marc Newson, recently hired Apple exec., is a very well-known industrial designer having prowess in automobile technology and is a very close confidant of Apple’s chief design artist, Jonathan Ive.
Apple is slowly trailing Google in a race to pit heads against each other in this electric car race it seems.
If Apple wants to keep its shares soaring, it needs to keep innovating on ideas like this to maintain its market position to have fair competition with Google or else, Google will win this race too like it is winning the iOS versus Android race in the market at the moment.
Anyway, Apple bought 3 domain names – Apple.car, Apple.cars and Apple.auto, this was first spotted on MacRumors.
However, as seen on the Domain info, Apple used MarkMonitor – a company known for protecting corporate trademarks online – as its registrar.
So, this could be the case of Apple trying to protect its trademark and brand.
But it just might be a great time to think about taking the plunge and getting into some Apple stock in preparation for the elevator ride to the top "if" all of the above is true and Apple does come out with a phenomenal Apple iCar.
There are a lot of Apple fanboys who will be lining up to take possession of an Apple car.
As for me?
Well I got my eyes on being an early adopter of this future car if I can ever win the lottery...LOL
So take my stock advice with a grain of salt and a fleck of pepper.
Let's hope so...
Apple on Tuesday announced fiscal third-quarter earnings of $1.42 per share, or $7.8 billion in net income, on sales totaling $42.4 billion.
That compares to a net profit of $1.85 per share in the same quarter last year, while revenue slid from the Q3 record of $49.6 billion that Apple set in fiscal 2015.
Ahead of Apple's report, analysts were expecting EPS to come in at $1.39 while revenue was seen dropping to $42.1 billion, right in the middle of Apple's guidance of between $41 billion and $43 billion. iPhone sales in fiscal Q3 2016 totaled 40.4 million units, down from the 47.5 million iPhones the company sold during the June quarter last year, which was also a third-quarter record.
Wall Street's consensus for this past quarter was 40 million units.
The company said it expects between $45.5 billion and $47.5 billion in sales for the fiscal fourth quarter.
The only part of Apple's business that's really growing is its mobile apps and online services.
The company reported a 19 percent sales jump for the segment that includes iTunes, Apple Music, the App Store and services like Apple Pay and iCloud storage.
"That segment produced nearly $6 billion in sales -- more than Apple pulled in from quarterly sales of either iPad or Macs," reports ABC News.
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