Life After The iPhone: Why Apple's 'Next Big Thing' Could Be A $420B Business

Zinger Key Points
  • Apple Car is Cupertino's biggest opportunity followed by health care and AR/MR wearables
  • If the average selling price of an Apple Car is $60K apiece, it would be a $420 billion business.

Self-driving cars could be a major opportunity for Apple Inc. AAPL followed by health, augmented reality and mixed-reality wearables, according to Loup Funds analyst Gene Munster.

The Cupertino, California-based tech giant recently announced its improved CarPlay. This led Bloomberg columnist Mark Gurman to guess that this could be a precursor to the company's self-driving car.

Munster agrees. If the company gets around to launching an Apple Car, it could be a huge opportunity for the Cupertino, California-based tech giant, Munster said earlier this week.

If Apple manages to get 10% of the global car market, below market leader Toyota Motor Corporation's TM 13% share currently, and if the average selling price is at $60,000 apiece, it would be a $420 billion business. That's the same amount investors are expecting from Apple as revenue in fiscal-year 2023, he noted.

Related Link: FDA OKs Apple Watch To Help Monitor Symptoms Of Parkinson's Disease

Munster also pointed out how Apple uses the phrase "health and wellness" over "health care."

"I think the reason is they're trying to consumerize health care," he said. "By dropping the 'care' it emphasizes being healthy."

Image courtesy of Apple

 

Posted In: Gene MunsterLoup FundsAnalyst ColorNewsAnalyst RatingsTech

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