Did Apple Intentionally Leak Its Self-Driving Car?

Apple Inc. AAPL is thought to be exploring self-driving car development after The Guardian reported that company engineers met with officials from GoMentum Station, a "high-security testing ground for autonomous vehicles."

Not everyone believes this report has confirmed Apple's plans to build a car, but investors may wonder if this leak was intentional. Thus far, the meeting between Apple and GoMentum Station has not been denied.

"They are so secretive about what they're doing," Ron Weiner, president and CEO of RDM Financial Group, told Benzinga. "Almost nothing that comes out Apple is by mistake. They are an amazing company at giving out exactly the information they want to and they are ruthless when someone violates their confidentiality."

It is possible that Apple's visit involved another initiative not related to self-driving cars, but those details are likely to remain a secret.

"I think Apple has got their hands full, but when you got $150 billion to throw around, they're going to explore 100 different places," said Weiner. "I don't think, as an investment advisor, that I can trade on those rumors."

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'Foolish' Decision

Weiner said that he thinks it would be "foolish" for Apple to go into a business "that's gonna require the amazing infrastructure of, say, a Tesla."

"For Apple to go so far outside their ordinary business, I think would be betting too much of the farm," Weiner warned. "Personally, I'd stay out of the automotive business. I'd figure out ways of maybe enhancing the workings of existing automobiles, rather than trying to get into the entire infrastructure of building an Apple car."

Instead of building a vehicle from scratch, Weiner suggested that Apple could partner with an existing automaker.

"The amount of financial commitment and resources that would go into [building a car] would jeopardize all they have and all they can create," said Weiner.

Don't Bet On It

Weiner said he would not make a dollar bet on this rumor.

"I think that would be foolish," he said. "I think what you can do is count on Apple innovating as time goes on. Are they going to fail with the watch? Frankly, you should not care. You should look at the ecosystem, look at what they have, look at how well they can execute when they finally do have a winner and go with that."

Weiner encourages current Apple investors to hold onto their shares.

"If you don't own Apple, I would buy it," Weiner concluded. "And it's not based on whether they're gonna be in the automotive business anytime soon."

Disclosure: At the time of this writing, Louis Bedigian had no position in the equities mentioned in this report.