iCar: Apple’s not a first mover. It’s a second shaker
The iCar rumors are heating up again. In December, Reuters reported that Tim Cook is building a ridiculously techy personal automobile and now we finally know who the manufacturer might be. Spoiler alert: it's not Tesla or any of the other fancy car manufacturers). Similar to the rest of Apple's products, the "Apple Car" will be designed in Cupertino but Apple isn't building/assembling it itself. That honor will reportedly go to Hyundai-Kia. Tentative ETA for production: 2024. Of course, secretive Apple didn't confirm. Why does Apple wants to make cars? Apple's first car attempt, "Project Titan" (bold name), began in 2014 and crashed in 2019. So why is Apple trying again? In short, the TAM is huge. TAM is Total addressable market. It is the the total amount of money companies could make selling a specific product/service. Morgan Stanley put out a research note stating that while the annual TAM for smartphones is $500B, the TAM for global mobility...