Scalper1 News
Amid reports that Apple (AAPL) is developing a car, shares of the Cupertino, Calif.-based company climbed to a new high on Tuesday. Apple stock was up 1% in midday trading, near its intraday and record high of 128.88, on the stock market today. The stock has now hit record highs in four of the last five trading sessions. Apple has been working on a minivan-like electric vehicle in a project codenamed “Titan,” according to the Wall Street Journal. Apple CEO Tim Cook approved the project nearly a year ago. Several hundred Apple employees are working on “Titan” now, with plans for a team of 1,000 people. Apple reportedly has been hiring away engineers from luxury electric car maker Tesla Motors (TSLA) and other automakers. Apple also is researching autonomous or self-driving cars, Reuters reported. Cantor Fitzgerald analyst Brian White said the Apple car could be “the iPhone of the future.”… Scalper1 News
Scalper1 News