21 May 2020
Apple is currently the world's first U.S. company with a market valuation of over $1 trillion. It achieved the feat earlier this year and if the reputed analyst Ming-Chi Kuo is to be believed, it is working towards reaching the next trillion dollars. He predicts that it will be counting on the success of two projects related to Apple Glasses and Apple Car for achieving this ambitious goal.
Starting with Apple Glasses, it will be Apple's foray into the hardware augmented reality (AR) products. Apple's keen interest in the AR world is not a hidden secret as we have already seen it taking necessary steps in the software aspect. It announced ARKit 2.0 earlier this year which is a platform for developers to create interesting and unique AR apps and experiences. It is expected to launch Apple Glasses by 2020 which is in a couple of years from now.
Next up, we have the Apple Car which has been appearing in rumors for so long now. It is an electric vehicle which is speculated to be a final product of the highly-secretive Apple project called "Project Titan".
"We expect that Apple Car, which will likely be launched in 2023–2025, will be the next star product. The reasons for this are as follows: (1) Potentially huge replacement demands are emerging in the auto sector because it is being redefined by new technologies. The case is the same as the smartphone sector 10 years ago; (2) Apple’s leading technology advantages (e.g. AR) would redefine cars and differentiate Apple Car from peers’ products; (3) Apple’s service will grow significantly by entering the huge car finance market via Apple Car, and (4) Apple can do a better integration of hardware, software, and service than current competitors in the consumer electronics sector and potential competitors in the auto sector."
It is worth noting that even though Kuo is predicting the release of Apple Car, there have been rumors which are in favor as well as against it. Some of the rumors suggest that Apple would only release software products related to autonomous vehicles and other suggest there could be a hardware product too. Either way, we will only have to wait until some more concrete information appears.