Is Apple Planning an iCar?

With so much buzz surrounding the possible launch of an Apple iWatch or an Apple TV update, many Apple (NASDAQ:AAPL) aficionados have forgotten one of Steve Jobs’ least discussed but most ambitious product ideas. Steve Jobs wanted to build an Apple iCar. Steve Jobs never made a secret of his ambition to take on Detroit, even discussing the project with a New York Times journalist shortly before his death on Oct. 5, 2011. Although the idea of a consumer electronics company building an automobile seems counterintuitive at first, it actually makes sense when you consider Apple’s history of radically improving poorly designed content delivery devices in various markets.

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From the portable music player to the cell phone, Apple has a history of innovating products that fall outside of the normal market boundaries of most computer companies. Typically, Apple identifies a market that is deluged with badly designed interfaces; much like the personal music player market was before the introduction of the iPod, before stepping in and introducing a new product that ends up becoming the cutting-edge industry leader…

 

In many ways, a car is the ultimate content delivery device that most people interact with on a daily basis. Besides functioning as personal transportation devices, most cars also function as movable media consumption devices equipped with everything from phones to music and video players.

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Most people would agree that Detroit could use a little Apple innovation, and with over $137.1 billion in cash reserves, Apple certainly has the means to buy or create their own car company. If Apple does decide to purchase a car manufacturer, some investors think Tesla Motors (NASDAQ:TSLA), the luxury electric car maker, would be a perfect fit for Apple, since both companies are known for investing in cutting-edge technologies.

A new Apple product could help give a boost to the stock’s investor spirits:

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