This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Apple iCar: Not So Crazy?

NEW YORK ( TheStreet) -- Apple (AAPL - Get Report) sells iDevices by the hundreds of millions each year. If Steve Jobs was still around, these products could even include an iCar.

In a New York Times article talking about a potential Apple iWatch, Nick Bilton touches on Apple's penchant for pushing the boundaries, even taking on the automobile industry. Before Jobs passed away, Apple reportedly wanted to make its own car. Prior to his death in October 2011, Jobs had a meeting with John Markoff of The New York Times, telling Markoff that he would've liked Apple to do something with autos.

This isn't the first time we've heard about Apple and autos. Back in August, Apple's Senior Vice President of Marketing, Phil Schiller, touched on this subject during the company's patent trial with Samsung. "First, Apple had been known for years for the Mac. Then we had a big hit called the iPod -- it really changed the view inside and outside the company," Schiller said. "People were suggesting every idea: make a camera, make a car -- crazy stuff."

Apple has already made some headway into autos, with Siri coming to Daimler's (DAI) Mercedes Benz A-Class line.

Going a step further, some notable Apple employees have deep rooted passion for cars. Schiller lists cars as one of his passions on his Twitter bio. Eddy Cue, senior vice president of internet software and services, sits on Ferrari's board. Tim Cook actually met with Ferrari's CEO Luca di Montezemolo last year, further fueling the fire.

Google's (GOOG - Get Report) working on driverless cars in its quest for domination of every facet of technology. A car either developed solely by Apple, or with the help of, say, General Motors (GM - Get Report) or Ford (F - Get Report), could get the attention off Google's driverless car and back on Apple. The Cupertino, Calif.-based firm sorely needs to regain its reputation for cutting-edge innovation, given the recent downturn in the stock.

As far back as I can remember, there's always been speculation that Apple would move into automobiles, perhaps designing its own car. Several years ago, for example, there were rumors that Apple would work with Volkswagen to build the reported iCar.
1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.74 0.00%
F $13.56 0.00%
GOOG $693.01 0.00%
GM $31.80 0.00%
TSLA $240.76 0.00%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs