Which Tech Stock Will Take Its Place?
Remember just a few months ago in tech stock talk it was all about self driving cars. Even though today it’s about bitcoin and cryptocurrency, the discussions at companies like Apple haven’t stopped with regard to self driving cars. This time, however Apple is streamlining its focus to look at the technology of self-driving vehicles and not actually becoming an auto manufacturer.
In June, CEO Tim Cook reported that the company would be focusing on “autonomous systems” but little details were given. After a long battle between deciding if they wanted to push forth with a hardware play or focus on their lifeblood in technology, it looks like the line in the sand has been drawn. Apple is planning to test its technology with self-driving shuttle vans. These vans will go between Silicon Valley campuses, according to reports from the Times.
Further, the Times expressed that Apple’s major tipping point on its “Project Titan” came after there were complications realized during testing. Ultimately the overall scope of the self-driving automobile project resulted in lacking end points. Essentially, Apple had too many or not enough ideas in order to determine what the final product would actually be. When you’re a company the size of Apple, having a clear end destination is key and learning when to “fold em” can make all the difference.
Similarly, the debate has risen at the Google camp. The search engine and technology company, whose parent is Aphabet, has been having this debate for years. With the case of Alphabet, it appears that the company is moving ahead and expanding on the self-driving auto project. As the NY Times reports, “one of the biggest challenges is holding onto talented engineers because self-driving technology is one of the hottest things in Silicon Valley, and Apple is hardly the only company working on it.”