Tesla Stock Drops Following WSJ's Report On Apple Car

The electric carmaker received a blow in the stock price followed by the news presented by WSJ that Apple is aiming to release its EV in 2019.

It was observed recently that Tesla stock went down on the index by a considerable number on Monday’s trading session, which was due to the news released by the Wall Street Journal about how Apple Inc. is planning to launch its electric car in the 2019. This is expected to turn the tables for the electric carmakers in the long run.

In the starting of the session, the stock of the luxury car maker did find its way up by 3 percent, but by the time the trade came to close off, the downfall was recorded to be at 0.82%. The share price was seen to come around at $262.96 before the stock market closed.

Even though the fact that Apple is working on an electric vehicle is not a new thing and the industry is already bracing itself for the high end car the classic smart phone makers could be preparing, Tesla has informed the press about how this does not bother the auto company’s position in the industry and that it is actually glad that so many huge companies in the industry are considering working on electric cars in the first place, as this is going to boost the idea of EVs in the industry.

When the first EV was released in the market, it was received well but many analysts were of the opinion that this could not work out for a longer period. However, the hybrid car makers turned things around by creating customers through production of high end EVs, which were not only highly satiable but also looked gorgeous on the road.

As for Apple, the software firm has been rumored to be working on an EV for quite some time now and this is the first time that it has decided to make things official. Following a meeting with government officials, the Californian tech company decided to break the news into the market and gave the year 2019 as the time it is aiming for the release of the car.

Rumors previously stated that Apple is working on a project, which has been named as Titan and had a couple of hundred people working under it, which included all kinds of executives including software designers and developers from all over the industry. Tesla is well aware of this as the software firm has taken away a number of its employees, offering them a higher pay scale with better facilities. Recent news also suggests that the project Titan now has the permission to work with a team of 600 workers in total to carry out the plans effectively. 

Is Xiaomi Working Against Apple?

The software giant coauld be facing some serious pressure from Chinese firm which has recently decided to launch a new laptop series supported by Linux operating system

Apple Inc seems to be in a threatened position and that too by a Chinese tech company called Xiaomi which is reportedly working on a new laptop that could change the way people look at the laptops made by the iPhone makers, according to recent Apple news.

According to the recent news, it looks like the Chinese company is currently working towards initializing a laptop making business and this news has been confirmed by not only Digitimes but also Bloomberg. The tech firm seems to be quite focused about the whole project as reports say that it has already started ot contact other companies in order to receive all the right components and products for the manufacturing of the gadget. Currently, it is dealing with Samsung with which it wishes to get important parts from. Furthermore, a deal is in process with Foxconn which will make up the design of the gadget that the firm wishes to release in the market sooner than later.

According to the latest Apple updates that have been released, it was also seen that Apple business will be facing outright competition from Xiaomi which will be making a laptop with a screen of 15 inches and will be made available to the public with a price tag of $470. The Chinese firm has also announced that the laptop will be supported by Linux instead of the usual Windows operating system which is something else that sets it apart from other companies.  Even though a lot of things have yet to be released, it shows that the firm will going up against giants in the industry like the iPhone makers which is something that has gotten the analysts to talk ponderously.

Analysts on the other hand, are taking in consideration the future that laptops have in the industry and how the Xiaomi ones can end up fighting the PCs battles with the ones which are already available in the industry, like Macbooks, Ultrabooks and Microsoft’s Surface and Surface Pro. If everything goes according to plan, it will turn out that the laptops made by the giant turn out to be a deal breaker, giving a difficult time to all the other giants in the industry.

Furthermore, it is being believed that Google’s Chromebooks could also end up having a relatively increase in sales too, which again is something that Apple software giant needs to take into consideration. With all the different laptops backed up by Linux operating system, analysts believe the software giant of the industry could actually end up facing a difficult time in the coming future.