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Will the Apple Car mean “R.I.P. Tesla” on November 19?

What's Jeff Brown pitching as the "Apple Car" takeover target in Exponential Tech Investor?

By Travis Johnson, Stock Gumshoe, November 3, 2021


Jeff Brown’s latest pitch about an “Apple Car” is similar to stories that have made the rounds several times over the past five years, teasing companies from Tesla to Magna International as potential partners for this secretive project to put four wheels on an iPhone and take over the world. Here’s a little taste, it opens with Apple’s reported snub of Elon Musk in 2017, when Tesla was in trouble and needed a deep-pocketed partner but Apple apparently wasn’t interested:

“Apple has been secretly working on its own electric car. Musk’s company was worthless to them.

“In fact, they are hellbent on crushing Tesla and every other major carmaker.

“When it comes to the development of new breakthroughs…

“Apple has been outspending Tesla by a factor of 12-to-1.

“That’s why Forbes now says Tesla’s days could be numbered because of the Apple car.”

And, of course, if you place your bets before the “big reveal,” prepare for buckets of cash to rain down upon you… which is why you need to pony up mucho dinero for Jeff Brown’s expertise (I can’t get the order form to open at this point, but the letter being teased, Exponential Tech Investor, is generally pitched at $2,000/yr).

“… for investors who act before the big reveal happens, this spells an opportunity like no other.

“A shot at massive gains.

“To put things in perspective, CNBC says the Apple car has the potential to dwarf the iPhone… Apple Watch… or any revolutionary product Apple has ever made.”

That strains credulity, to be sure — Apple has annual revenue of more than $350 billion, most of which is from the iPhone either directly or indirectly. Ford, which makes the top-selling vehicle in the US, by far (the F-150 pickup truck), has annual sales of about $135 billion. And while Apple may eventually be able to make its own branded car and sell it at a high gross margin if they can transfer their brand power to a new market, it would take a very long time to get there, and they’re never going to have profit margins for cars that come anywhere near the margin they have for mobile phones (Apple had gross profits of $150 billion, more than 40% of sales… Ford had gross profits of about $19 billion, less than 15% of sales, and that’s a pretty high gross margin for an automaker — GM is lower, VW and Toyota are slightly higher, Tesla is in the 20-25% range lately on its less than $50 billion in sales, Ferrari, which is comparatively tiny with less than $5 billion in annual revenue, is really the only large auto brand strong enough to demand gross margins as high or higher than Apple).

And there’s apparently “one small company” that will make the Apple Car possible… and a catalyst coming up in a couple weeks. More from the ad:

“Morgan Stanley pegs the opportunity at $10 trillion.

“And according to my research, one small company that will set it all off could explode on November 19. Just days from now.”

Other hints about this company? Here’s a bit:

“Apple is notoriously secretive about their new breakthroughs. Nothing has been formally announced yet.

“But based on all my research, the biggest winner will be a tiny technology company out of California, just 350 miles away from Apple headquarters.

“It’s microscopic compared to Apple. More than 500 times smaller.

“But its technology is so revolutionary, Wall Street and Silicon Valley are scrambling to buy every available share.”

OK, so far we’ve got something going on on November 19, a company less than 1/500th the size of Apple (which should mean a market cap below about $5 billion), headquartered or somehow located in California (probably in Southern California, I imagine — Los Angeles is roughly 350 miles from Apple’s Bay-Area headquarters in Cupertino).

Other hints?

We’re told that this company might be a beneficiary of something like the “iPhone effect,” where suppliers to Apple enjoyed huge gains as iPhone sales soared…

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“As the world’s most valuable technology company, the technology giant holds an enormous sway. For tiny technology companies, a lucrative partnership with Apple often amounts to a billion-dollar windfall.

“And because these companies are typically much smaller than Apple, their stock market returns can be exponentially bigger, too.

“That’s exactly what happened with the iPhone…”

That wasn’t the first revolution at Apple, of course, it’s just the one we remember now, because the iPhone became so dominant — it was actually the iPod that put Apple on the map for investors again, driving interest in Steve Jobs’ revolution for the music business, and there were plenty of iPod suppliers pitched by investment newsletters 15-20 years ago as well.

So what’s the story? Well, no surprise, Jeff Brown sees one “tiny electric car company” as being next in line for the “Apple effect” — here’s how he puts it in the ad:

“I believe the Apple effect is about to hit one tiny electric car company – even before the Apple car is officially announced.

“In fact, I’m 100% convinced it could happen as soon as November 19.”

That’s pretty squirrelly language, of course — “100% convinced it could happen” is no different than saying “it might happen,” but I bet the latter would sell many fewer newsletters.

And Brown goes on to detail some of the rumors and indicators pointing to the Apple Car being imminent…

“In my mind, there’s no doubt about it. Apple is going for the jugular with the electric car.

“Ming-Chi Kuo is widely considered the most tapped-in Apple insider on the planet. He’s convinced the electric car will be Apple’s “next star product.”

“According to my sources, Apple is pouring all its engineering might into it. They even tapped Tesla’s top engineers and executives from BMW, Ford, and Mercedes Benz.

“Documents submitted to the federal government show a total of 5,000 experts are involved with the project.

“My team and I have been tracking this story for months. We uncovered over 100 patents dealing with the Apple car. And new ones are being filed almost weekly.

“All this points to one thing…

“Apple is pulling out all the stops to bring the car to life as soon as possible.”

The chatter about an autonomous Apple EV has certainly picked up some this year — they’ve called that initiative Project Titan, and it’s been in the works since 2014, but there have also been rumors about the project being scrapped at least once, and it has reportedly changed directions and strategies several times, from being tied to the “Apple CarPlay” iPhone integration to being a plan to partner with Hyundai or Kia on an Apple-branded car, to a full self-developed EV with the Apple logo. The latest roundup of rumors and speculation by Apple Insider in August had people guessing that production of an Apple car could come as soon as 2024 or 2025, though none of that sounds particularly firm.

So… what’s that tiny partner? Here are the other clues:

“Before this new breakthrough is even officially revealed….

“A tiny technology company – with the potential to become Apple’s key partner on the Apple car – will start its meteoric rise.

“In fact, a major announcement that could set it all off is due on November 19. That’s just days from now.”

And then the more specific hints that really give us our answer:

“It’s no coincidence on Morgan Stanley trading floors, this company is considered a top electric car stock.

“At the helm of it is a man known in tech circles as the ‘Steve Jobs of cars.’

“An immigrant who dreamed of doing big things. A visionary billionaire never afraid of making big, bold bets. A mover and shaker in the global electric car industry.

“He was instrumental to the rise of Tesla. Elon Musk brought him in to design the first Tesla car, which quickly became a best-seller.

“If he plays his cards right, his next big move could ultimately be the Apple car.”

We’re also told that this company is following the model of Apple (and of the fabless semiconductor companies) in outsourcing production of their vehicle instead of building a factory — and that Brown says this is the only EV company that is doing it in this “asset light” way.

“It’s no coincidence their prototype electric car was recently spotted at Apple headquarters in Cupertino.

“The Detroit Bureau reports Apple engineers wanted to get a closer look at this company’s revolutionary technology.”

More from Brown:

“I think it’s highly likely that at some point Apple will just want it all for itself. I expect them to swoop in and buy the whole company.

“Especially considering that the tech giant is sitting on a $200 billion mountain of cash.

“An acquisition of this tiny company wouldn’t make a dent in Apple’s war chest. But it would cement them as an undisputed electric car leader – virtually overnight.”

And one more Apple link: They use the same contract manufacturer. Here’s how Brown puts it:

“I uncovered a fascinating piece of proof. A smoking gun of the company’s true long-term plans.

“To hit the ground running as soon as possible, they inked a major deal with a major manufacturer.

“And not just anyone.

“It’s the same company used by Apple for the assembly of nearly all its products. Millions of Apple devices each year are made under the same roof.

“This cannot be overstated. Can you see why I’m convinced they’re a perfect candidate for a major deal with Apple?

“This tiny technology company has nearly everything in place for the Apple car rollout. All that’s missing is the official announcement of its partnership with Apple.”

Well, not literally the same roof — Apple uses Foxconn to build most of its iPhones, almost all of them in China, and Foxconn is also planning to do contract manufacturing for automobiles… but those Foxconn-built cars will, they anticipate, be rolling out of the Lordstown plant that they just bought, from Lordstown Motors, in Ohio.

So yes, this is a teaser pitch for one of Foxconn’s future customers, run by a visionary designer who helped on the Tesla Model S: Fisker (FSR). That’s Henrik Fisker’s new company, it came public through a SPAC merger and has one EV planned for next year and another possible model to be introduced after that… not to be confused with Fisker Automotive (FAH), which produced the Fisker Karma for a little while and was also touted as a “next Tesla” company in 2009-2010 or so, with a half dozen rumored disruptive designs about to be released before it went bankrupt in 2013. Fisker has followed the “over promise” strategy of Elon Musk for 15 years now, but unlike Musk, who eventually “delivered” on many of his promises, albeit much later than anticipated, Fisker has provided serial disappointment for fans of his car designs.

The latest Fisker car was supposed to be the eMotion, another high-end sporty sedan to compete with Tesla’s Model S or Lucid Motors’ Air, but a couple years ago Fisker shifted gears to start with a midsize SUV instead, hoping that would be a more profitable segment to enter.

And what’s that November 19 moment that will supposedly send Fisker’s shares soaring? It’s the LA Auto Show, at which Fisker will be showing off their Fisker Ocean EV, the car which they pitch as being extra eco-friendly and “emotionally appealing” (it is pretty cool looking, to be fair). Last I saw, the car was scheduled to begin production in “late 2022,” though I don’t know particularly when and wouldn’t hold my breath on the date. It remains to be seen how it will compare to the competition once it hits the market — it’s essentially going up against the Tesla Model Y in size, specifications and price, so although the model shown at the auto show may not be the production model, exactly, I guess we will at least get some sense of how it might compete.

Will Apple partner with Fisker and develop a car in the near future? Well, the Apple Car has been rumored for about a decade now, and Apple’s longtime manufacturing partner, Foxconn, is pushing into building automotive assembly plants, buying the Lordstown plant and partnering with Fisker for their next EV in development for 2023 or 2024 (their first car, the Fisker Ocean, is not a Foxconn project, that’s being built by Magna (MGA) in one of its European plants — and if you want to speculate on contract manufacturers, Magna is a much safer bet than Hon Hai/Foxconn, since they’ve been assembling cars and car parts for decades).

There are plenty of connections if you want to conjure up scenarios, but I wouldn’t hold my breath — I suspect Fisker’s car with Magna will probably be released late, and that their next car, scheduled for perhaps 2023 or 2024 from that Foxconn Lordstown plant, will hit meaningful delays as well, and I have very little faith that Fisker will generate meaningful sales in the next five years, during exactly the time period when dozens of high-profile new electric vehicles will hit the market from both new and established automakers.

I expect I’m quite biased here, to be clear — my skepticism probably comes from the fact that I have strong memories of Fisker overpromising and, in my view, misleading investors and regulators in the years leading up to his last bankruptcy. And to be clear, I don’t trust Elon Musk, either, after his years of overpromising and (again, in my view) breaking securities laws with Tesla, and that means I have not had the pleasure of being a Tesla investor, to my financial detriment… though I do acknowledge that he has made it work to this point, even though that’s at least in part due to his cult of personality and his big-picture vision that appeals to investors.

Fisker has news coming this week, as well — they’ll be reporting tonight after the market close, and I’m sure the conference call will be heavy on discussion of their production plans for the Ocean. They did announce a battery supply deal just yesterday with CATL, the huge Chinese battery company, so they have at least some of the battery supply they’ll need from 2023-2025, and certainly the chatter at the COP26 climate summit in Glasgow has provided a little boost to a lot of green energy and EV stocks this week, but I don’t know what Fisker will be saying this evening or whether it will be taken well or poorly by investors. The word to this point has been that they will show the car at the LA Auto show, and that they’re on track to begin production in about a year.

What else do we know? Well, you can go back to the original presentation from the SPAC deal if you want to get some context for what they’re promising — the idea of production starting at the end of 2022 is still in place, so that has not yet slipped in the past year and a half or so, though that’s a little surprising since they switched the basic platform design of the car last year (it was supposed to use Volkswagen’s MEB platform, but that deal fell apart before it was finalized, which is why Fisker then switched to Magna as its assembly and powertrain partner). At that time, they were anticipating 8,000 Ocean SUVs produced in 2022 and 51,000 in 2023, leading to free cash flow in 2023… and I’d bet almost anything that none of those numbers will be hit, but that doesn’t mean the company will fail or the stock will fall — investors have not been particularly pushy about holding SPAC deals to their rosy projections — it just means I think production and revenue will come more slowly, as has been the case for pretty much every new EV model released so far. They think the money raised to date, primarily from the SPAC deal, about a billion in cash, will be enough to get through to commercial production, and since they’re doing contract manufacture through Magna that may well be true (they at least haven’t spent much of that cash yet).

So what’s the story? If people have some belief that Fisker can have a Tesla-like story, the stock will soar — and they do say that they intend to ramp up their marketing in conjunction with the introduction at the LA Auto show in a couple weeks, so perhaps that will raise their profile for investors. If the company doesn’t quickly get that kind of Tesla halo, then I expect investors will have to be quite patient. The same is true of other EV makers, including the high profile IPO of Rivian scheduled for next week, though whether the Fisker connection gives you pause or gives you confidence is probably a personal question. I’d hesitate to compare any of them to Tesla, if only because Tesla stock defies logic and we shouldn’t expect that of any other company, but that doesn’t mean it’s impossible, Fisker could certainly catch fire and delight investors at some point. Right now, as of their last quarterly update, it’s a $5 billion company with a car that will be built by Magna in Austria and available for delivery in 2023, maybe at a pace of as much as 5,000 units a month, and with preliminary designs underway for a second model to be built by Foxconn (the updated investor presentation is here, if you want more background). They have 17,500 reservations for the Ocean, they say, and aim to have 25,000 by the end of this year. I can see the appeal of an “asset light” auto designer, particularly given the challenges and costs of building your own car factory, so it may well be that Fisker ends up being a more appealing investment than many of the other startups… I just don’t really want to put my faith in Henrik Fisker at this point, so I’ll watch from the sidelines.

Morgan Stanley does disagree with me on that, to be clear, it’s not just Jeff Brown being bullish on Fisker — they did say in August that Fisker is their highest-rated de-SPAC EV Startup (a mouthful, no?), and that “the electric-car maker is the rare EV startup likely to launch its vehicles on time and that the stock has room to more than double in a year’s time.”

So I’m afraid that, as usual, it’s you who has to decide how to invest your money — skeptical of Fisker? Think they’ll be acquired by Apple and that the Ocean will be a massive hit following its formal unveiling at the LA Auto Show in a couple weeks? Something in between? Let us know with a comment below… and thanks for reading!

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ebl100694
November 3, 2021 9:44 am

I was too late for the Tesla party and I, too, am skeptical of Fiskar. I just put some of my little all on Ford, which is at a reasonable price and, in my humble opinion, has a good chance for a large slice of the EV market. It got my attention when it rolled out the F-I50 Lightning. I know how Ford feels about their 150’s, so if they’re banking on selling bookoo electric models, they have my vote.

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Michael Gibbons
Member
November 3, 2021 9:54 am

Who and what to believe ….

https://apple.news/AohCOM7eJTN-G9DMtvke2kw

Last edited 2 years ago by farinc
merc
Member
merc
November 3, 2021 11:11 pm

agreed but bank of America bad too

terrytwoutes
terrytwoutes
November 3, 2021 9:56 am

Early this year in Jan and Feb I put some money into FSR (approx $15) and MGA (approx $77). FSR has gone up, then down, and now on way back up. I view FSR as a longer term investment and appreciate their asset-light model where they do not have to do all the production facility expenses. I’m hoping for a nice result from the auto show debut and also 2022 production reports. If FSR runs up I will consider taking profits. MGA went on a nice upward swing after purchasing to $100 and I cashed out some profits. So far my timing was great on that decision, more luck than a pure statistical based decision.
I do think there are too many small EV mfrs and there has to be some fallout. Will FSR be one of the survivors? At least from a design standpoint Henrik Fisker is good and makes nice looking vehicles. That will help sales if the vehicle can prove to have good driving and reliability. I don’t think Apple will be buying a car company, but they could become a partial owner where they use that to push their in-car electronics.

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Tyndall Bishoff
Member
Tyndall Bishoff
November 3, 2021 10:04 am

Seems like it’s a lot like Elio Motors! Over-promise, reover-promise and delivered nothing!

Chris
Chris
November 3, 2021 11:19 am

I doubt Apple will go through with an acquisition of FSR. Looks decent and priced affordable. I see no production till late 2023, if any at all.

And what EV company sells merchandise on their website to augment earnings?

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Phillip Van Huffel
Phillip Van Huffel
November 3, 2021 11:33 am

Foxconn has extensive automotive experience. They bought Yulon Motors, in Taiwan, which assembled several Nissan models. They have acquired Lordstown Motors (an old GM plant) that has the infrastructure to begin assembly next year. That should be factored into your assessment.

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hintodepinto
hintodepinto
November 3, 2021 12:18 pm

I like the Fisker story and do own the stock . Whether you think of him as charismatic or just a charlatan, he is a good designer and seems to have learned from past mistakes. Will Apple buy out Fisker? I doubt it but isn’t Apple all about design combined with substance? With Fisker, they at least get half of that equation. I do think they have a great chance for success. We have along tradition and a love for beautiful vehicles and that’s what Fisker’s strength is, designing cars that attract the eye. Who knows, maybe Apple wants/needs his vision.

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elton
Member
elton
November 3, 2021 12:21 pm

Making cars is hard. Making cars at a profit is really hard. Historic multiples on surviving car companies tends to be single digit. Profit has been elusive, even for Tesla which has derived most of its profits not from building cars but from selling tax credits. Some of these start ups are going to get bought by the big boys, some will go bankrupt. Within ten years I think who’s left standing are the traditional car companies and Tesla. It takes a lot of capital for a long time to do this. Even Tesla will eventually turn into a car company instead of a “tech stock”.

Last edited 2 years ago by eltonatl
Natorious
Natorious
November 3, 2021 1:42 pm
Reply to  elton

I think the exact Elon quote is “prototypes are easy, production is hard & being cash flow positive is excruciating”

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Christian Arial
Member
Christian Arial
November 6, 2021 10:51 am
Reply to  elton

I think you’re right about consolidation, but the nature of automobile culture may change very quickly in the near future to a SAV TaaS model for many. The assumption of individual vehicle ownership isn’t necessarily the “normal” of tomorrow.

Loy
Member
November 7, 2021 1:06 am
Reply to  elton

What carbon tax credits would Tesla have for sale without building & selling 4 Tesla models on 3 continents, with 2 EV trucks in development? Carbon tax credits fund the direction reversal of a century of global warming. What VC has ever stepped up to fund the direction reversal? Jello

alexho
alexho
November 3, 2021 2:25 pm

Renewable energy enthusiasts believe plug-in cars are the future.They expect by 2035, chief automakers will have turned away from the internal combustion engine. It’ll be up to the grid to fuel all those new cars, trucks and buses. Unfortunately the Nation’s electrical transmission grid can’t handle the load. For example, 50 cars being charged at once would draw as much electricity as a high-rise office building in New York City, and they are expecting 2 million electric vehicles on their streets by 2040, according to the New York Power Authority (washingtonpost.com/business/2021/10/13). You do the math, and make your own judgement about the validity of such predictions.

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Natorious
Natorious
November 3, 2021 6:32 pm
Reply to  alexho

My nuclear stocks have been doing excellent (NXE, DNN, MIRW). Nuclear could get us there with room to spare.

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Loy
Member
November 7, 2021 1:46 am
Reply to  Natorious

The “science” of nukes wrought Hiroshima, Nagasaki, The Trust Territory of the Pacific, Pripyat & Fukushima as 5 separate ground zeros. Imagine nuking Japan 3X in a single life time. American democracy’s power, promise & practice thus far.

John M
Member
John M
November 3, 2021 4:03 pm

I bought faraday, just in case it was going to do something, but didn’t have as good a feeling as I did about Lucid. I’m up 50% in LCID, down 40% in faraday. I’ll hold faraday to the bottom most likely, but have high hopes on LCID. People keep talking about the next Tesla or the Tesla killer, but that’s not the point. As companies take market share (so percentages) from Tesla, Tesla is still GROWING. People don’t get that Tesla can double and double and double production, yet still lose market share, because the EV MARKET IS GOING TO BE HUGE. There is room for Lucid and faraday and Ford and GM to all grow their EV share, while ICE shrinks. Biden wants 100% EVs by 2030, the OEM companies are calling for 50%. Doesn’t matter who is right, 50% is MASSIVE growth over today. I haven’t bought magna yet, but I might. I might pick up some Rivian too. To misquote a phrase, Buy em all, let God sort them out.

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hoodini
hoodini
November 3, 2021 4:21 pm

If anyone else sees “short interest” as a big red flag, FSR has a short interest of 28%.

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merc
Member
merc
November 3, 2021 11:07 pm
Reply to  hoodini

not if reddit gets a hold of it lol

Lisa Bass
Lisa Bass
November 6, 2021 12:00 pm
Reply to  merc

Haha right!

genewholt
November 3, 2021 5:45 pm

Jeff Brown would have better luck playing Santa Clause and predicting Christmas then he does predicting the next big thing. His shill could be Elf.

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Trucker MB
Trucker MB
November 5, 2021 12:52 pm
Reply to  genewholt

He makes those turn around GIF and snaps his fingers in reds outfit would fit him well

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aoraccounts
aoraccounts
November 6, 2021 5:01 pm
Reply to  genewholt

I bought JB’s cheap newsletter and its bad. all but a tiny portion of his recommendations are over their ‘buy up to $xx”. and those aren’t even good. I made sure to cancel it ahead of time, before they charge me for another year of his self-serving BS.

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Peter Punter
Guest
Peter Punter
November 4, 2021 10:36 am

I am not a fan of EVs, or Tesla from my dealings with them over 10 years ago.
I won’t be driving around in a vehicle with batteries that the fire brigade are unable extinguish if on fire.
Rivian is likely to IPO at a crazy price based upon already chewing up $11bn and losing over $1bn last year.

I am in the Ammonia fuel (far greener) camp converting existing cars rather than building heavy EVs.
What is the point of burning fossil fuels to compensate for extra electricity requirements for the increase in EVs.
In the UK we couldn’t provide electricity for the climate conference cars.

This looks like an opportunity to grab a quick buck on the back of next week’s IPO pushing EV companies higher.

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Darrell
November 5, 2021 1:02 pm
Reply to  Peter Punter

Interesting news about Rivian lately. Bloomberg’s recent article was full of “ifs” like, “If” they get 20% of the market, they’ll be huge. My first impression of the truck is that it has Chinese eyes (headlights). I point that out because Rivian is trying to capture the “Bro” market: do-it-in-the-dirt guys who like big, obnoxious trucks. The sex appeal of the product is a huge seller in this market, not the fact that it gets X miles per charge. Any aspect of the truck which makes it look un-manly will be a turn-off to their intended audience.

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irwin Eisenstein, JD, MBA
Member
irwin Eisenstein, JD, MBA
November 4, 2021 7:38 pm

Apple has taken its time in entering new markets. However, building a car is very different than building a phone. some suggest that apple will come out with an ev that also has an Ai component. That might give it a lift that it needs to match some of the other evs in the market. At this time there are questions about radar, cameras, and lidar for the AI component and if combining them all will result in a pricey car. I know that Waymo has had some success in Vegas and where GoODle will go with its cars?

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hullevad
November 6, 2021 8:47 am

Appel Fisker

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betterdog777
betterdog777
November 6, 2021 2:22 pm

Thanks Travis,Currently holding FSR.
Just getting ready to sell ? Not sure,
Proceeding with caution.
Great updates, informative as always.

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Bob Feuer
Member
Bob Feuer
November 6, 2021 3:03 pm

As a Brownstone subscriber, on 8/17/21, I bought FSR for $13.86. It closed on 11/5/21 at $19.01, up 37.16% in 80 days. That’s equivalent to a 167.22% annual return. Like you, my wife distrusts Elon Musk. She doesn’t want us to invest in his Tesla, SpaceX, or any of his businesses. Like you, distrust has cost the opportunity to make a lot of money with Musk.
Jeff Brown has, hands down, been the best investment stock picker I have ever read and followed. He has recommended many stocks such as Invidia, Twilio, Tucows, Beam, Skyworks, PaloAlto Networks, Mercado Libre, Crisper, Editas, Intellia, Arista Networks, and Amazon everyone of these picks has given me over 100% return, and some as high as 1200%. My point is when it comes to trusting Jeff Brown’s advisements, his record with me is near spotless, including FSR, so far.
But I do appreciate your note of caution regarding past performance of Mr. Fisker.

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Loy
Member
November 7, 2021 1:22 am

HA! For any EV company to be a big new hit competing with Tesla, all Cybertruck pre-orders would have to be refunded & all Tesla owners would sell or trade their Teslas for the Apple car. Instead of shorting Tesla early & often, it could be done late & often. Then the “fraud” label might stick to Musk. Time for him to trot out another sold out run of “short shorts”.

robertsjim
robertsjim
November 7, 2021 8:17 am

I find it hard to believe that Apple will buy a car manufacturer. Maybe contract with one, but not buy one lock stock and barrel.

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Harry
Guest
Harry
November 7, 2021 8:27 am

Tesla only took off after it announced the building and completing of the Shanghai plant. GM, Ford, etc has the substance as they are experienced in the world largest auto market. Launching EV without a China strategy is foolish.

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