CAR - Apple's potential autonomous car is called the ultimate EV bear case by Morgan Stanley

Morgan Stanley thinks the interest in Apple (NASDAQ:AAPL) in entering the electric shared-autonomy space in transportation has been accelerated by the soaring valuation of Tesla (NASDAQ:TSLA) and other EV stocks in a validation of the wealth creation potential. However, analyst Adam Jonas and team do not think Apple (AAPL) will bring a car to the market in the traditional sense. "We believe a car without steering wheel or pedals must be a 'shared service' and not an 'owned car,' To be clear, we do not believe consumers will own title to a fully autonomous car... but will engage in the service as a subscription or transport utility." Jonas and team also think the Apple (AAPL) autonomous car story will play out slowly. "We expect L5 (fully autonomous) vehicle penetration to ramp very slowly due to a host of technological and moral/legal/regulatory considerations. By FY25 we forecast L5 fully autonomous vehicle

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Apple's potential autonomous car is called the ultimate EV bear case by Morgan Stanley