AAPL: surging. Coming close to all-time highs again. Breaking: AAPL is accelerating work on autonomous car. Later: hit an all-time high, again, on a down day for the Dow, although this should push the Dow into the green.
How will AAPL do it? Foxconn. On November 10, 2021, Foxconn and Lordstown Motors entered into a strategic partnership. Link to press release here. Wasn't "November 10, 2021" just one week ago?
- Lordstown, Ohio: factory already there, and it's not in California
- Lordstown Motors Corp: a provider of electric light-duty trucks focused on the commercial fleet market
- Hon Hai Technology Group (Foxconn): one of the largest electronics manufacturers in the world
- press release explains how this is all going to be done
- Lordstown Motors: wiki. Workforce? Locked and loaded to get this done.
When I hear Foxconn, I can't not see Apple.
From wiki, on Lordstown Motors: this second paragraph:
General Motors has invested $75 million in Lordstown Motors.
GM obtained a seat on Lordstown Motors' board of directors, and has included Lordstown Motors into its Tier 1 supply chain. With the deal, Lordstown Motors is looking to compete against Tesla, Rivian, and Nikola's electric vehicle lineup.
GlobalFoundries: wiki here.
- it was announced today that Ford has signed a strategic agreement with GlobalFoundries
The scorecard:
- Rivian -- Amazon -- Ford -- GlobalFoundries
- Lordstown -- Apple -- GM -- silicon M1 chip (GM currently depends on seven chip manufacturers)
- Tesla -- chips (?)
Comment: this all reminds me of two other great battles from the past:
- DVD vs Blu-Ray (also followed on the blog, a long, long time ago)
- cellphone chips (also followed on the blog, a long, long time ago)
Comment: the EV scorecard above also incorporates another battle:
- the chip
There's an obvious first question but I will leave this for another time. It's time to digest all that's been posted.
Final trades, Halftime Report: Unitedhealth, Fedex, Amazon, Nutrien LTD (NTR).
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