Apple ( NASDAQ:AAPL ) has delayed two of its most promising future tech products in just a few weeks. The stock went up to $180 earlier this year because of all the talk about the Apple Car and the new mixed reality devices, even though the company’s near-term growth prospects aren’t excellent. My investment theory is still very bearish on the stock, which is priced too high for what the market knows about problems with making the iPhone 14 and bigger product delays.
Product Hype Falls Through
Investors in Apple should think that the Apple Car project has been put on hold indefinitely. The tech giant has pushed Project Titan until 2026, even though the company is still in the pre-prototype stage and needs to finalize the design.
The company has laid out the following steps for releasing an Apple Car, which shows that the 2026 date could still be moved back:
2023: Design Release
2024: Things are in place
2025: A lot of testing
2026: Product launch
The biggest problem is that Apple still needs a manufacturing partner, even though 2023 is coming up on the calendar. Even if the tech giant has all the latest designs and features, Apple still needs a manufacturing partner. Without one, the company would have to spend billions of dollars and years building manufacturing facilities.
Apple is having trouble making the iPhone 14 in China, a big reminder of how much the company still depends on a product that came out in 2007 and is now on its 14th version. Apple only wanted to match the number of units sold in 2021, so the production problems are worrying.
Most analysts think that the tech giant...
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