Apple cancels EV plans

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Apple (AAPL) has halted its decade long project to develop an electric car, according to a Bloomberg report. Senior Columnist Rick Newman notes Apple's profit margin on smartphones and software is far above that of automakers'. He says full-scale auto manufacturing "doesn't fit with [Apple's] business model" given the complexities of the market. With the Apple car now scrapped, Senior Tech Editor Dan Howley explains Apple's intentions to redirect investments towards generative AI and machine learning. #Apple #youtube #tech About Yahoo Finance: Yahoo Finance provides free stock ticker data, up-to-date news, portfolio management resources, comprehensive market data, advanced tools, and more information to help you manage your financial life. - Get the latest news and data at finance.yahoo.com - Download the Yahoo Finance app on Apple (https://apple.co/3Rten0R) or Android (https://bit.ly/3t8UnXO) - Follow Yahoo Finance on social: X: http://twitter.com/YahooFinance Instagram: https://www.instagram.com/yahoofinance/?hl=en TikTok: https://www.tiktok.com/@yahoofinance?lang=en Facebook: https://www.facebook.com/yahoofinance/ LinkedIn: https://www.linkedin.com/company/yahoo-finance

Published 2024-02-28 · Watch on YouTube ↗
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