The closely watched finance manager Cathie Wood told CNBC on Wednesday that Apple could have owned the driverless vehicle market by buying it Tesla if they get the chance during the problematic start-up of the electric vehicle manufacturer Model 3.
“We’ve been watching Apple very closely for years. Because what is an autonomous vehicle? It’s the ultimate mobile device,” she said in a broader sense “Squawk Box” Interview in which she also talked about them Ark Invest strategies, the She expects returns long term and Purchase of Zoom after its recent decline.
Apple stocks All-time highs reached last Friday and then again on Monday – market value rose solidly above 2.5 trillion US dollars – afterwards Last week’s Bloomberg report about the tech giant accelerating efforts to introduce a self-driving vehicle. Apple was not immediately available to respond to CNBC’s request for comment on its autonomous ambitions. Tesla was also not immediately available to comment on Wood’s comments.
“It’s very hard work – and with all the turnover in management, we’d be surprised if they could do it that quickly,” Wood said, referring to Bloomberg report in June on the departures from Apple’s autonomous unit of three top managers. In 2018, Apple lured Doug Field, then Tesla’s senior vice president of engineering, back to the company he had previously worked for. Apple has also hired countless other former Tesla employees.
Wood – a longtime Tesla Uber bull and shareholder and supporter of the CEO Elon Musk – CNBC said, “This should have been Apple’s market. Apple should have bought Tesla when they were given the opportunity. We’re glad they didn’t. “
Musk revealed, in a December 2020 tweet for reaching out to Apple’s CEO Tim cook “During the darkest days for the Model 3 program” on the possibility of selling Tesla “(for 1/10 of our current value).” Musk said Cook refused to attend the meeting.
The first Model 3s, a lower-priced EV sedan for mass-market car buyers, shipped in 2017 after increasing production to meet demand was problematic. In 2018, Musk tweeted that the auto business was “Hell” and it was him Sleep in the factory to try to solve the problems.
Today, Tesla joined the $ 1 trillion market cap club, and Musk, the EV company’s largest shareholder, has sold billions of its stock holdings.
Wood told CNBC that she saw “nothing wrong” with Musk selling stocks, taking profits and paying billions of dollars in tax bills related to stock option subsidies.
Applications for admission Late Tuesday, Musk revealed he was exercising options to buy 2.15 million Tesla shares and selling 934,091 shares valued at just over $ 1 billion. Since his Twitter poll on November 6thWhen asked if he should sell shares, Musk dumped 9.2 million shares valued at $ 9.9 billion.
– Reuters contributed to this report.