Apple is going through a technological evolution, and – similar to Darwin’s Origin of the Species – the iPhone maker’s equivalent of natural selection appears to be moving towards autonomous cars.
Analysts at Morgan Stanley reviewing Apple’s balance sheets have found the iPhone maker is spending more now than it did when it launched its ground-breaking iPhone. It spent US$5 billion on additional R&D from 2013 to 2015 including $1 billion on Chinese ride-hailing business Didi.
Morgan Stanley believes this signals a major shift within Apple from personal devices to the auto industry. And its analysts say that, given the massive size of the shared mobility market, estimated at US$2.6 trillion, the revenue potential for Apple is huge.
With the anticipated shift towards autonomous cars, Morgan Stanley is expecting Apple to report revenue of $400 billion in 2030.
