TFI’s Ming-Chi Kuo revealed a observe over the weekend that addressed a report from Reuters last week, which stated Apple plans to supply a self-driving passenger automobile in 2024.

The Reuters report sent shares of companies that build parts for autonomous cars, like lidar sensors, hovering. However the hype was purely on hypothesis a few of these corporations would possibly provide elements for the Apple automobile, Kuo warned.

Kuo has constructed a repute for precisely revealing Apple’s product launch plans, and he carefully follows Apple’s provide chain.

“We consider that the present so-called Apple Automotive idea shares are solely speculations by the market and don’t contain precise Apple Automotive suppliers,” Kuo stated. “We additionally suppose that as a result of EV/self-driving automobile technical specs are nonetheless evolving, it’s too early to speak in regards to the closing specs of the Apple Automotive.”

Kuo stated the market is “too bullish” on the Apple automobile and that he would not be stunned if the Apple automobile would not launch till 2028 or later. The earliest he thinks it may hit the market is between 2025 and 2027. Kuo additionally steered that Apple could also be too far behind in synthetic intelligence to launch a aggressive self-driving automobile.

“If Apple Automotive needs to reach the long run, the important thing success issue is huge knowledge/AI, not {hardware},” he stated. “One in every of our greatest issues about Apple Analysis 27 December 2020 2 Apple Automotive is that when Apple Automotive is launched, the present self-driving automobile manufacturers may have collected no less than 5 years of huge knowledge and be conducive to deep studying/AI. How does Apple, a latecomer, overcome this lagging hole?”

Apple has saved its grand imaginative and prescient for autos comparatively quiet. However the firm has been testing self-driving know-how for a couple of years now, and CEO Tim Prepare dinner has stated he views the know-how as a method to beef up Apple’s AI methods.

Different analysts have been simply as skeptical as Kuo.

“Apple conducts R&D in lots of areas, and whereas we’re not stunned to listen to the media as soon as once more focus on Mission Titan for autos, we’re very skeptical that Apple will really produce a automobile, as auto sector profitability is way decrease,” Citi analyst Jim Suva wrote in a note last week.