Last week was like a roller coaster. apple company AAPL. The tech giant made headlines for its decision to abandon its self-driving car project, revelations of a secret partnership with Chinese EV maker BYD, and record iPhone sales. Let’s take a closer look at these stories.
Apple abandons self-driving car project
Apple has officially ended its self-driving vehicle testing permit in California, following an earlier decision to abandon its electric vehicle project. The California Department of Transportation confirmed that Apple applied for the revocation on September 25th, and that the license will officially end on September 27th. The move is in line with previous reports indicating that Apple is exiting the electric vehicle market after a decade of effort.
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Secret partnership between Apple and BYD
In a surprising revelation, Apple is reportedly in a secret partnership with Chinese electric car maker BYD to develop long-range electric car batteries. The partnership, which began in 2017, aimed to develop battery systems using lithium iron phosphate batteries. Although Apple does not own the technology used in BYD’s current Blade batteries, this development is a testament to Cupertino’s efforts in car production.
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Record iPhone sales
Apple set a new iPhone sales record in the third quarter of 2024, coinciding with a broader recovery in the global smartphone market. Canalys said Apple’s iPhone sales narrowly outpaced Samsung Electronics Co. Ltd., giving both tech giants an 18% market share.
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Apple’s low-cost Vision Pro
Apple is reportedly stepping up efforts to compete with Meta Platforms Inc. Vision Pro, a discounted version of the iPhone maker’s first-generation mixed reality headset, could be ready by next year. Over the weekend, it was reported that Apple’s Vision Pro team is working on at least four new devices that address the current criticisms.
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Apple stock shortage
Apple is reportedly running out of stock on some products, leading to speculation that new models may be on the way. Retail inventory is running low for several Apple products, including the iMac, MacBook Pro, Mac mini, iPad mini, and their accessories. Such inventory shortages often indicate that a company is preparing to introduce an updated version of a product.
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This story was generated and edited using Benzinga Neuro Ronak Jainism
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