Gene Munster: Apple should buy Rivian after pulling Apple Car plug

Deepwater Asset Management’s Gene Munster thinks that, after pulling the plug on its Apple Car, “The Titanic Disaster,” Apple needs to make a big move, such as acquiring electric vehicle maker Rivian.

William Gallagher for AppleInsider:
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Asked by CNBC host Brian Sullivan whether Apple might instead buy an existing EV manufacturer, Munster said that buying Rivian is “doable.”

“And I think it does line up, Apple could do this, and I think that that would get them into that bigger market,” he said. “I’m disappointed that this turn in events, and so I don’t want to be predicting that they’re going to ultimately do something like this.”

“But I do think Apple needs to break into some new market,” he continued, “they need to do something big, and potentially Rivian would be just the answer to that.”

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MacDailyNews Take: Rivian’s market cap is currently $11.11 billion which seem to be well out of caretaker Tim Cook’s comfort zone, seeing as Apple’s largest-ever acquisition was Beats Electronics for $3 billion (ironically, Cook did blow in the neighborhood of $11.11 billion on his Project Titanic debacle).

Forget about electric vehicles. The writing has been on the wall for electric vehicles for some time now.
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