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Is iCar the Next Big Apple Adventure?

Oct 30 2013, 2:42pm CDT | by , in Rumors | Apple

Is iCar the Next Apple’s Big Adventure?
Photo Credit: dpaperwall
 
 

Apple received a suggestion to buy car maker Tesla and move into the auto industry to ensure long term revenues.

Apple Balla reports that in a second unsolicited advice in a short time, Apple’s chairman Arthur Levinson and its executive boss Tim Cook received a letter from the analyst Adnaan Ahmad, with a suggestion to buy car manufacturer Tesla and design the first iCar. The previous unsolicited suggestion came from the billionaire Carl Icahn, who pressured Apple’s CEO Cook to buy back $150 billion of the company stocks.

London-based Ahmad, who is employed by the German investment bank Berenberg, explained his suggestion that Apple should move into the auto industry as exactly the kind of move that made Apple what it is, with its history of disrupting industries and planning out of the box. The revenue growth from an iCar would be something that Apple cannot expect in the long run just from its mobile devices.

Ahmad adds that it is possible that Apple’s entrance into the auto industry would completely revitalize this failing US  industry and would be a catalyst for speeding up the current transition to hybrid and electric cars.

Although aware that his proposal will be ridiculed by some, Ahmad wrote in his letter to Apple that he is convinced that Apple would hugely benefit from an "out of the box" move to the new market. It cannot expect to have high returns and growth from its iPhone business for any foreseeable future.

Neither Tesla nor Apple commented on Ahmad’s letter.

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