Thanks to 2ndDivisionVet for the heads up!
Apple & Tesla Joint Venture?
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Posted on 09/28/2016 5:12:42 PM PDT by Swordmaker
The author is a Reuters Breakingviews columnist. The opinions expressed are his own.
Great partnerships are often forged when each party enjoys a surplus of something the other needs and there’s little conflict in their ambitions. By that logic, two of Silicon Valley’s best known firms, Apple and Tesla Motors, really need each other right now. An investment in Tesla by Apple in return for some of the carmaker’s innovation dust might be just the ticket.
Apple Chief Executive Tim Cook is revamping the company’s approach to self-driving cars and the gadget maker’s broader role in the future of transportation. He just fired some of the company’s autonomous car team, according to the New York Times.
Along the highway at Tesla, founder Elon Musk needs billions of dollars of capital as he ramps the company up toward making a targeted 500,000 vehicles a year by 2018. He could also use an injection of corporate credibility as his proposed deal to buy his solar-panel venture SolarCity, also publicly traded, appears to be running into unanticipated headwinds.
(Excerpt) Read more at blogs.reuters.com ...
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This would be a piss poor choice for an Apple investment...IMHO.
” Since its founding in 2003, the company, which went public in 2010, has earned a profit in just one three-month period. In 2014, it lost $294 million on $3.2 billion in revenue.
Some $217 million of that revenue came from the sale to its competitors of zero-emission-vehicle, or ZEV, credits and other pollution allowances.
“You’re talking about a company with no cash flow,” says Matthew Stover, an analyst at Boston-based Susquehanna Financial Group, which in the three months ended on Jan. 31 sold more than half its 1.5 million Tesla shares. “One hundred percent of the value of the shares is associated with some view of the future that has not manifested itself in the past.”http://www.bloomberg.com/news/articles/2015-03-04/as-tesla-gears-up-for-suv-investors-ask-where-the-profits-are
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