By Emily Bary
Talk of an Apple Car is ‘catalyzing a shift in investor narrative back toward the attractiveness of the platform,’ analyst says
A hypothetical Apple Inc.-designed car may be years away, but it could already be helping the company’s stock, in the view of one analyst.
“We see the prospects of Apple Car–representing the clearest path to doubling Apple’s revenue and market cap–catalyzing a shift in investor narrative back toward the attractiveness of the platform (1 billion loyal customers) and long-term sustainable growth,” wrote Morgan Stanley’s Katy Huberty in a Friday note to clients.
Simply put, “investors should pay attention to Apple Car,” Huberty wrote.
Her comments come after a Bloomberg News article Thursday highlighted a series of developments around the consumer electronics company’s plans for an electric vehicle. Apple reportedly has sped up its launch targets as it now aims to introduce a car in four years.