Why Apple Stock Climbed Higher Today
Shares of Apple (NASDAQ: AAPL) climbed as much as 5% today on continued momentum from a report yesterday that the company is planning to make an electric vehicle (EV) by 2024. As of 12:05 p.m. EST, the stock has given up some of those gains but was still up 2%.
Investors have been hearing rumors around the Mac-maker's Project Titan for years, and the initiative has suffered from many setbacks and pivots. Reuters reported yesterday that Apple is making progress and moving forward with the plans, which will include revolutionary battery technology and lidar sensors. Apple's current plan is to build a vehicle targeting regular consumers, as opposed to autonomous taxis that could potentially be used for a ride-sharing service, according to the report.
Image source: Apple.
Source Fool.com
