Apple’s fully self-driving EV rumored to be in the works, AAPL soars

3 min read | November 21, 2021 03:47 AM EST | By Sundeep Radesh

AAPL soars

Meanwhile, the AAPL stock skyrocketed on the above news breaking. It has skyrocketed 6.2 per cent in the last three days of trading and is further up 0.27 per cent after hours. The last three sessions also saw the volume of trade more than double with 18.7 million, 23.52 million and 13.63 million shares exchanging hands on November 17, 18 and 19 respectively.

Needless to say, the stock is part of the coveted FAANG group and with a market cap of US$2.63 trillion, it is the biggest company in the world today. Closing trade at US$160.55 Friday, November 19, it had an earnings-per-share (EPS) of US$5.61 and a whopping return on equity of 148.41 per cent. Its current quarterly dividend stands at US$0.22, a dividend average of 0.548 per cent, which is noteworthy, given that FAANG stocks don’t usually pay dividends.

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Apple’s fully self-driving EV rumored to be in the works, AAPL stock soars

Bottom line

The company has been a trailblazer in technology for decades now, and if it pulls off a truly autonomous car, it won’t be the first time the company has been a gamechanger. Exciting is that without the need of a driver’s cabin or even a steering wheel, a potential Apple car could look very different to what we’re used to, it would likely be a luxurious, more sociable setting; serious competition to Tesla, Alphabet Inc’s Waymo and others.

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