Apple Inc. (AAPL) Cash Balance Justifies Electric Car Ambition

Apple Inc. (NASDAQ:AAPL) has got everyone baffled on its new venture in the auto space, with reports showing it is working on a secret project of bringing to realization an electric car. During an interview on Fox Business, Wall Street Journal Columnist, Veronica Dagher, reiterated that even though, the project seemed like a huge undertaking, the probability of Apple getting it right remained high.

Dagher believes that Apple Inc. (NASDAQ:AAPL) might have been pushed into the electric car business by the fact that investors have come to expect it to come up with something new and big each now and then, able to shape the world. If it ever comes to fruition, the electric car project will affirm Apple’s commitment to clean technologies already seen by its expansive investment in solar powered data centers.

“It is great that the company wants to innovate. It is a big leap but if you look at Apple they have experienced in Hardware and software bringing them together and making it look nice and work well. They are masters at consumers design,” said Mrs. Dagher.

MAXfunds.com co-founder, Jonas Max, believes Apple has been pushed into the new venture by the pressure of its big cash balance that can be used on anything. It is still unclear whether Apple Inc. (NASDAQ:AAPL) will be looking to develop a car from scratch as this will be a huge undertaking involving the construction of big manufacturing plants and employing more staff.

Fox Business, Neil Cavuto, believes Apple is in, to design a segment of the car that will be highly interconnected with other devices such as smartphones. Making the software’s for operating the proposed electric cars makes a lot of sense according to Max but not developing the entire piece

“I don’t think they are out to make a car I think they are out to make a really nice dash with all the bells and whistles that can constantly change,” said Mr. Cavuto.

Max maintains it will be a huge liability for Apple Inc. (NASDAQ:AAPL) to venture into the car manufacturing business considering the tussle that other automakers always go through in the development of a perfect car.

Watch the latest video at video.foxbusiness.com

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