Apple is reportedly in discussions with electric vehicle maker Rivian about a potential partnership, according to a report from DigiTimes on Monday night. While specific details are unclear regarding the nature of the alliance, sources from the supply chain in Taiwan have indicated that talks are ongoing. This news comes following Apple’s recent decision to cancel its “Project Titan” Apple Car in late February.
In terms of stock performance, Apple experienced a slight dip of 0.9% to 181.71 in Monday’s trading session, despite a 6% increase in shares on Friday following positive quarterly earnings results and a sizeable buyback plan of $110 billion. On the other hand, Rivian’s stock saw a 2.6% climb to 10.33, encountering resistance at its 50-day moving average after reaching a record low the previous month. With a market capitalization of just $10 billion, Rivian is positioned to navigate through its challenges in the competitive EV market.
Meanwhile, Apple is gearing up for a “Let Loose” event on Tuesday morning, with expectations of new iPad announcements. In a separate event, Rivian is set to report its first-quarter earnings on Tuesday night. Both companies are set to make important moves in their respective sectors as they continue to innovate and compete in their respective markets.
As the future of the automotive industry unfolds with technological advancements and strategic partnerships, investors continue to monitor key players like Apple and Rivian for potential growth opportunities. Whether these talks result in a significant collaboration or not, both companies are set to play important roles in shaping the future of transportation technology. Stay tuned for further developments in this evolving story as it unfolds on Tuesday and beyond.
In summary: The report suggests that Apple is currently discussing potential partnerships with electric vehicle maker Rivian. While specific details are unclear regarding the nature of this alliance, sources from Taiwan indicate that talks are ongoing. This news comes after Apple announced it was cancelling its “Project Titan” initiative earlier this year.
On Monday evening, investors observed that while stocks fluctuated slightly based on various factors such as earnings results and market trends.
Apple’s stock dipped by 0