Apple could launch a fully autonomous vehicle by 2025

Shares of Apple Inc (NASDAQ: AAPL) jumped more than 2.0% on Thursday afternoon on a Bloomberg report that the tech giant was aiming to launch a fully autonomous vehicle by 2025.

Apple is already done developing the chip for Apple car

Apple was previously rumoured to have abandoned Apple Car but today’s report confirms that Kevin Lynch’s division is “accelerating” working on a steering-less, level 5 self-driving vehicle.   

Interestingly, the report said Apple was almost done developing the chip it intends to use in its first autonomous vehicle and was already negotiating deals with manufacturers to build the car in the U.S.

Josh Brown's remarks on CNBC's 'Halftime Report'

On CNBC’s “Halftime Report”, Ritholtz Wealth Management’s Josh Brown said it made sense for Apple to focus on autonomous vehicles as it has resources unmatched by any other company on the planet.

Jon Najarian also agreed that the experience of being in a car in the future would revolve around the screen and “Apple doesn’t want to miss out on that”.