Apple may be in the driver’s seat in the realm of global mobile technology, but could that same driver’s seat lead to Apple’s next big thing?
In recent days, rumors have swirled that Apple will soon enter the automotive market, as the company is believed to be lining up the tools and talent to roll out an electric car that could represent the most ambitious new product category ever created by Apple.
But is this rumor based on any reality whatsoever?
“While we believe Apple can do both a TV and a car, it seems far more likely that we get a TV from Apple in the next five years than a car,” Piper Jaffray analyst Gene Munster was quoted yesterday by Fortune.
But if Apple does eventually enter the auto business by the end of this decade, Munster believes it would lead to a $50 billion revenue opportunity in the U.S. market alone.