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.READ MORE: Summer Departs With Sweltering Temperatures; Smoky Skies Draped Over East Bay
ALSO READ: New Tesla Model 3 To Cost $35,000READ MORE: Monterey Police Arrest Two For Numerous Offenses Following Shooting
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.MORE NEWS: Scaled-Down Dreamforce Marks Major Step In San Francisco's COVID Economic Rebound