CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: According to a Bloomberg report, AAPL is ending a decade-long effort to build an electric car. Ditching the car initiative could be seen as a near-term positive, in our view, as the news allows AAPL to improve cost efficiencies. More importantly, greater R&D spend can now be allocated toward AI initiatives, where we believe AAPL has a greater chance of success, and improving its overall ecosystem of products. While we think the car initiative likely offered the greatest long-term upside to AAPL’s revenue trajectory, it was also likely to erode margins. Still, we viewed the car initiative as more of a “pie in the sky” opportunity and investors are unlikely to see this as having major implications to the stock price as it wasn’t modeled into our

By Aaron Tilley Apple has put an end to its decadelong push to build its own electric vehicle, an effort once seen as having the potential to transform the auto industry. That transformation, which has been under way for years, continuously increased the level of difficulty Apple faced as it spent billions trying to catch or exceed the capabilities made available during a revolution led by Tesla Motors. The secret group inside the iPhone giant — known internally as Project Titan — has been informed that Apple would be shutting down its efforts in building a car while the company ramps up investments in the area of generative artificial intelligence, a person familiar with the situation said. Some of the employees inside the group will be shifting to Apple’s AI group, while other employees working on car hardware will likely face layoffs. Bloomberg News earlier reported the plans. Apple has