Apple (AAPL) Car Will Help Bridge the Gap to $3 Trillion Market Cap - Citi

Citi analyst Jim Suva reiterated a Buy rating and $150.00 price target on Apple (NASDAQ: AAPL) on the belief that the company will make an Apple Car via outsourced production and begin to bridge the gap from $2 trillion market cap to $3 trillion.

The analyst stated "While Apple Car would achieve lower-than-corporate-average margins, we do see the ROIC>WACC and thus, we see shareholder value creation. By 2025, the EV hardware market is estimated to exceed the combined smartphone, PC, tablet and wearable hardware markets. Here, we not only list enhancements that the automotive sector has been lacking for innovation, which Apple could improve upon, we also quantify the potential impact of Apple Car on Apple’s sales and EBITDA."

For an analyst ratings summary and ratings history on Apple click here. For more ratings news on Apple click here.

Shares of Apple closed at $119.82 yesterday.

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