Apple buys Tesla: speculations fill void in automotive news during holidays

Article by Anita Panait, on January 7, 2014

During the holidays, there seemed to be not enough news on the auto industry that the media could report about. However, there have been plenty of speculations. For instance, there was a speculation during the holidays on whether Tesla Motors could turn into an acquisition target for a major Detroit carmaker in 2014. Yra Harris of Praxis Trading even told CNBC that he expects Tesla to be acquired by General Motors this year.

There were also some suggestions that Apple could acquire Tesla and regain some of the creative charm that had gone after founder Steve Jobs passed away in 2011 – a claim from some analysts who have been claiming that the tech giant has lost its innovative edge under current chief executive Tim Cook.

"People are questioning Cook's status as a leader of an innovative company," Josh Stewart, portfolio manager at the Wasatch World Innovators Fund, told USA Today.

Adnaan Ahmad, a tech analyst at Berenberg Bank, wrote in October an open letter to Cook and Apple chairman Art Levinson suggesting that the tech giant acquire Tesla, saying that such move "would radically alter Apple's growth profile."He also wrote in the open letter that "in Elon Musk,” Apple could obtain a “new iconic partner to lead Apple's innovation."

Topics: apple, tesla

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