Market Overview

Tesla Takes Over Apple Territory (In Cupertino)

Tesla Takes Over Apple Territory In Cupertino

Tesla Inc (NASDAQ: TSLA) needs lots of new office space for its employees. Serendipitously, Apple Inc. (NASDAQ: AAPL) is in the process of moving thousands of its new employees to a new campus.

Movin' On Up

In a research report Thursday, Trip Chowdhry of Global Equities Research stated Tesla will start occupying Apple's Cupertino offices in 2018 after Apple movies its 12,000 employees from Cupertino and Sunnyvale to its new campus called Apple Park.

In fact, Chowdhry noted that Tesla's Palo Alto offices are overcrowded and overgrown its capacity by a factor of four. Tesla's employees even need to park their cars in the nearby VMware, Inc. (NYSE: VMW) campus.

Related Link: Why One Analyst Is Gaining Confidence In Tesla's Potential For Profitability

Tesla is expected to shift the following departments to Cupertino:

    1. Core research and development.
    2. Software.
    3. "Brains."
    4. Tesla Energy.

The following departments will likely remain in Palo Alto:

    1. Marketing.
    2. Customer service.
    3. Supplier management.
    4. Special projects.
    5. Legal.

Tesla Is The Future

Chowdhry reiterated his prior belief that the social media trend has come to an end, and companies like Tesla represent the future. Specifically, companies that boast solid innovation, solid technologies, solid processes while implementing industrial sciences, material sciences, process sciences and computer sciences represents the future.

"Gimmickry innovation is over — I friend you — I poke you — I like you — I comment you [...] etc is over," Chowdhry emphasized.

Image Credit: Joe Ravi [CC BY-SA 3.0], via Wikimedia Commons

Latest Ratings for AAPL

Feb 2020Canaccord GenuityMaintainsBuy
Feb 2020BarclaysMaintainsEqual-Weight
Jan 2020B of A SecuritiesUpgradesHoldBuy

View More Analyst Ratings for AAPL
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Posted-In: Cupertino Global Equities ResearchAnalyst Color News Events Analyst Ratings Tech Real Estate Best of Benzinga


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