Is Tesla the Next Apple?

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Tesla Inc. (TSLA) - Get Report and Apple Inc. (AAPL) - Get Report are some of biggest powerhouse companies in business, but is there a chance that they could become partners?

Morgan Stanley analyst Katy Huberty says despite come similarities, the odds of Tesla and Apple working together are unlikely.

"View Tesla in a way they viewed Apple 20 years ago: a company that thinks differently, that is incredibly innovative in a category that needs a spurt of innovation. That creates investor interest. If there’s a path to profitability and reason to believe scale will continue to increase, then tech investors tend to not care as much about valuation and/or are will to look multiple years into the future when scale and profitability will support current valuation," Huberty wrote in a note to clients. 

As of early trading, Tesla shares were marked 0.5% higher at $819.20 each. They have now risen nearly 95% so far in 2020. 

As for Apple, their shares were marked 0.1% lower at $319.00 each. They have gained 8.5% this year against a 13.8% decline for the Dow Jones Industrial Average. 

For more, check out Martin Baccardax and his breakdown of Tesla and Apple. 

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