Apple Car Project Still Well Away From Bearing Fruit
SAN FRANCISCO (KCBS) -- There's been a lot of speculation about Apple developing its own car, engaged in a semi-public employee poaching battle with Tesla, and assigning hundreds of employees to the codename Project Titan.
But it may be best to be patient, as Piper Jaffrey analyst Gene Munster, a noted fan of the company, is telling clients that an Apple car will probably be a reality in ten years rather than five.
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Munster thinks investors may be getting ahead of themselves on the short term potential for Apple due to the rise in electric vehicle popularity.
If Apple does assemble a car, Munster believes it would be in the luxury layer at more than $50,000 and it would come connected with Apple features like Siri and Beats.
