Cantor Fitzgerald Looks Past The "Apple Car," Suggests Robots On The Way

In a report published Monday, Cantor Fitzgerald analyst Brian White commented that Apple Inc.'s AAPL future "Apple Car" has the potential to be the "iPhone of the Future" but that is just the first step in Apple's long-term initiatives. White explained that based on various market reports, the automotive market in the U.S. equates to a revenue opportunity of approximately $549 billion and a global opportunity at nearly $2.9 trillion. The analyst added that the opportunity for Apple in the auto market could be "significant" and it is apparent that Apple's ambitions in the market are "well beyond CarPlay." However, White speculated that Apple's long-term ambitions extends well beyond the lucrative auto market. "We believe the personal robot category offers great potential over the next decade and fits well with Apple's skill set," White wrote. The analyst expanded by stating that personal "user-friendly" robots could be a longer-term opportunity for Apple as "more things become computers." The analyst concluded by arguing that Apple is well positioned to leverage its expertise in hardware and software innovation to create a vast digital ecosystem and create easy to use "aesthetically pleasing products." Shares remain Buy rated with a $160 price target.