Recently, lots of companies have been investing in ride-sharing services in order to glean understanding and experience in an industry that will become a big part of the value-proposition for self-driving cars.
Apple, too, has now invested $1b in a Chinese ride-sharing service. Apple has long been rumored to be producing a self-driving car. And this would give them valuable insight into an industry in which they hope to become a major player.
Also noteworthy is Warren Buffett’s recent, sizable investment in Apple. Analysts credit his interest in their P-E ratio, current buyback program, and high dividends.
Nasdaq reports a consensus 12 month price target of $120.
The stock is currently trading at $95, a 26% projected increase.
I will bet +10/-5%